Vijay Solanki has today stepped down as chief executive of IAB Australia after almost two years in the role, with Gai Le Roy to take over immediately in the interim.
Ms Le Roy, current director of research, will hold the position until a replacement can be found.
The shock announcement follows the appointment of Cameron King as chair of the board and Libby Minogue as deputy chair last week.
On his departure, Mr Solanki said he enjoyed leading the IAB but was ready for the next challenge in career. It is not yet known what his next move will be.
The IAB Australia board has began the recruitment process for a new CEO.