The chief executive of Northern Rock, Adam Applegarth, has submitted his resignation, the stricken lender has said.
Mr Applegarth is expected to leave the bank when the second part of its strategic review is completed at the end of January next year.
The development was revealed by a Northern Rock statement released tonight announcing "significant changes" as part of the streamlining of its board.
In October much-criticised chairman Matt Ridley resigned, while eight weeks ago the bank said it had sought an emergency loan from the Bank of England.
This saw the Newcastle-based lender at the centre of the first run on a British bank since the 19th century.
Mr Ridley's successor as chairman, Bryan Sanderson, said tonight: "Adam's participation in the next phase of the strategic review is important, not least due to his extensive knowledge of the business and his ability to lead the process during this difficult period."
In September Northern Rock's savers rushed to withdraw cash after it emerged it had serious liquidity problems due to the ongoing global credit crunch.
This in turn led the government to issue a formal guarantee on any savings held in Northern Rock accounts.
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