Radio New Zealand chief executive Peter Cavanagh is to quit the state broadcaster next Friday, five months before the end of his contract, but he will not receive a "golden handshake".
In a statement the RNZ board said it had reached a mutual agreement with Cavanagh for him to leave early.
His replacement, current Fairfax Media group executive editor Paul Thompson, was available to take up his new role on September 9, three months earlier than originally expected.
RNZ chairman Richard Griffin said deputy chief executive Ken Law would take up the reins until Thompson came on board.
Griffin said Cavanagh left with RNZ's full support and the best wishes of the board.
"Peter has steered the company with extraordinary success over the decade of his stewardship and he leaves the organisation in good heart and celebrating the most successful results in its history," Griffin said.
He said there was "no golden handshake" for Cavanagh and he was paid what he was due.
Asked if Cavanagh was paid out until December, Griffin said that was confidential.
- © Fairfax NZ News