“It is early days and I am looking forward to a break and maybe some skiing, but after that I am hoping to do something back in the sector and there are a number of opportunities out there that are of interest,” he said.
The group is currently undergoing a restructure and Lay’s responsibilities will be handed over to relevant colleagues in the interim.
Lay said: “I have thoroughly enjoyed my time with Brains, working with a fantastic team of people, developing some exciting businesses and seeing the team achieve some great results.”
Chief executive Scott Waddington said: “I would like to thank Philip for all his support, hard work and valuable contribution to the business.”