Debenhams' trading director Suzanne Harlow is leaving the department store after 23 years with the business.
Harlow has been trading director at Debenhams since 2013 and is one of the company's longest-serving board members.
Debenhams said Harlow is leaving to "explore new opportunities elsewhere". However, she is receiving a substantial payout when she leaves on 20 October.
She is receiving a full year's salary as payment in lieu of notice. In addition, Debenhams is handing her £99,000, a payment which includes legal fees and outplacement support.
Her departure comes as new boss Sergio Bucher, former Amazon fashion chief, seeks to turn around the department store.
Today, Debenhams announced an update on Bucher's plans, saying that he is creating three new divisions and eradicating the role of trading director.
The new business divisions will be fashion and home, beauty and beauty services, and food and events. A new executive will be recruited to look after fashion and home in due course, with Bucher heading up the unit in the interim.