Peter Thomas, the original managing director of Punch Taverns and the former boss of Bass Lease Company, is to leave Punch.
He is quitting as leasing operations director, in charge of Punch Pub Company's 3,300 leased pubs, at the end of April "to move on to pursue other career opportunities".
Mr Thomas worked at Bass for 25 years and became head of its 1,455-strong leased business.
He remained as managing director when the estate was sold to a team headed by former PizzaExpress director Hugh Osmond three years ago.
After Punch's acquisition of tenanted pub operator Inn Business and Allied Domecq Retailing in 1999, Mr Thomas took on his current role, which grew to include Allied's former Vanguard Pubs & Restaurants.
Stephen Lambert, the former managing director of Inn Business, became chief executive of the enlarged Punch Pub Company, which also has 900 tenanted pubs.
Mr Lambert said: "Peter has been instrumental in the development of many parts of the company, but he now believes his original plan has been completed and wishes to move on to pursue other career opportunities.
"We thank him for his contribution over the last three years and wish him well for the future."
As a temporary measure, finance director Robert McDonald will support the leased regional operations directors in addition to his existing responsibilities.