AIM-listed developer Minoan Group said today that non-executive director Charles Young is leaving the company with effect from the close of business today.

Young is leaving in order to concentrate on his full time role as chief executive of E G Thomson.

His departure will be announced to shareholders at the company's annual general meeting, which is being held later today. 

The Minoan group has plans to develop a major leisure hotel scheme on Crete at the  Cavo Sidero resort.

Minoan chairman Christopher Egleton, said: 'Charles Young joined the group in 1998 and has been a director of the company since September 1999. Most recently, in his role as a non-executive director, he has been chairman of the audit committee and a member of the remuneration committee. 

'He will be sadly missed for his considerable expertise and his ongoing support of the company. He leaves with the board's very best wishes for the future.'