Brent Hoberman will step down from his role as chairman and chief strategy officer at Lastminute.com and Travelocity Europe at the end of this year.
The creator of one of the UK’s leading online travel agencies will join social networking site WAYN.com as chairman in January 2007.
The departure ends a meteoric eight years as figurehead for one of the UK’s most high-profile internet start-ups, although the company said it may use his services as a consultant in the future.
His exit has been widely expected since he stepped down as chief executive in April this year, nearly three years after managing director and co-founder Martha Lane Fox resigned and 18 months since Sabre, owner of US OTA Travelocity, bought the business for £577 million.
There are no immediate plans to appoint a new chairman, the company said. Ian McCaig replaced Hoberman as chief executive in April.
Meanwhile, WAYN.com has received an injection of funds totalling £5.7 million from a consortium including Hoberman, David Soskin and Hugo Burge from Cheapflights, and Adrian Critchlow and Andy Phillipps, co-founders of Active Hotels.