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Ray Taylor, the founder of digital planning and buying shop

Eyeconomy, is to leave the company at the end of September.

Taylor, who is managing director of Eyeconomy Holdings, will step down

from the company board "with immediate effect", according to a

statement.

The statement, penned by Eyeconomy Holdings chairman Paul McGroary,

continued: "Ray has decided to pursue other business interests and

leaves with the good wishes of the board."

Eyeconomy is obliged to release company information under the rules of

the Ofex stock exchange, where the company is listed.

Taylor's position will be filled by Jon Clarke, who was promoted from

media director to managing director of the media agency earlier this

year (Media Business, 26 February). The release states: "Clarke has been

responsible for the refocusing of the business onto the higher-margin

areas of brokerage and sales." Neither Clarke nor Taylor were able to

comment.

When Clarke was promoted in February, Taylor was free to launch what he

described at the time as a "consultancy business for dotcoms".

The division - called Eyeconomy Consulting - was to become the first of

a series of agency offshoots, which would advise clients in the

financial services, publishing and media sectors on their internet

strategies.

Taylor, a former editor of defunct VNU title Personal Computer, founded

Eyeconomy in 1996, and is a regular commentator on online advertising in

the trade press. He floated the company on Ofex in July last year.

Clarke has been at Eyeconomy since 1999, having previously worked for

Yorkshire TV, Central TV, BMP, Universal McCann and Mindshare.