Cruise.co.uk has revealed that its chief financial officer, Steve Bacon, has stepped down.

Bacon said that the move, which is part of a planned exit process, will allow him to “seek new challenges”.

He added: “I feel the time is right to take all my experience turning around and growing businesses to seek new challenges and pursue other private equity investment opportunities.

“I am proud to be leaving Cruise.co.uk in an excellent position for the next phase of its future development.”

Bacon joined Cruise.co.uk in 2013, when Risk Capital acquired the company for £14 million.

He was a key component in the £52 million sale of the business to BDC in 2016 and the acquisition and integration of Germany-based Kreuzfahrtberater.de last year, delivering more than 400% increase in turnover during his tenure.

He was previously at Gold Medal, where he played an integral role in the integration of the tour operator and Thomas Cook, creating a £650 million scheduled business. He was subsequently managing director for the new division.