Following his departure Myers will continue to be involved with the business as an advisor to GMG Radio, specifically in areas such as regulation and DAB.
His career with GMG Radio has spanned a decade and he was responsible for launching the division and overseeing its growth. GMG Radio now consists of the Smooth Radio network, Real Radio, Century Radio, and Rock Radio.
Taylor moved over from GMG Radio's sister company, Guardian News & Media in June 2007, where he was commercial director, to take up the same role and be managing director for Smooth Radio in London. He was then appointed deputy chief executive in March this year.
Myers said: "It has been a great privilege and pleasure to lead GMG's radio business for the last decade, which has been one of excitement, expansion - and tremendous fun.
"After 30 years in the industry, I feel it's the right time to take a step back from the day-to-day running of the business and move into semi-retirement.
"I'm particularly pleased that, because of our careful succession planning, I am able to hand over the reins to a brilliant chief executive who already knows the business inside out. Stuart is a superb operator and I know that GMG Radio can look forward to continued success under his leadership."
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