Mr Webster has led Easyjet for almost a decade

Mr Webster was set to depart in 2006, but will now stand down from the top job as soon as a replacement is found.

He said in a statement that the company had been the highlight of his airline carrier, but that this had been at the expense of "some personal costs".

Mr Webster has established Easyjet as one of the leading low-cost carriers.

As Mr Webster departs, founder and major shareholder Stelios Haji-Ioannou is joining the board as a non-executive director.

Mr Haji-Ioannou now runs a group of no-frills companies sharing the Easyjet livery and ethos, but has no executive role at the airline.

'Big contribution'

"I believe now is the appropriate time for the company to bring forward its succession planning process," said Mr Webster.

Prior to joining Easyjet, Mr Webster had been with his native Air New Zealand for 27 years, holding a number of top positions.

Easyjet chairman Sir Colin Chandler said Mr Webster's contribution to the airline had been "hugely significant".

He added that the search had now started for Mr Webster's replacement.

Mr Webster will stay with Easyjet in an advisory role until 30 November.