VisitBritain has announced that Lord Marshall of Knightsbridge is to step down as its chair in June – a year and a half before his term would have ended.

Lord Marshall, who took up the post in January 2005, said he was to leave the position as a result of the increasing commitments of other chairmanships he holds.

“Tourism is a vital and growing aspect of Britain’s economy and I am very glad to have worked with VisitBritain in this recent period, strengthening our international presence and effectiveness and building on the importance of the visitor economy,” said Lord Marshall.

“The industry deserves the best we can provide for it and I have now reached the point where the competing commitments on my time make it sensible for me to pass the VisitBritain baton to another chair later this year.”

“Until the end of June VisitBritain and the industry has my full commitment and I see it as business as usual.”

Lord Marshall’s other chairmanships include positions with Nomura International and Pirelli UK. He is also chair of the Board of Governors of Birbeck College, University of London.

The Department of Culture, Media and Sport (DCMS) will be advertising the position in the near future.