Hayden Wood had stayed on with a £250,000 salary after the government put the company into administration.
Image source, ParliamentTVThe boss and co-founder of collapsed energy firm Bulb will leave at the end of July, the company said.
Bulb went bust late last year when wholesale gas prices soared. It is being run by the government through regulator Ofgem until a buyer is found.
Mr Wood had come under fire for staying on with a £250,000 salary when the rescue is costing taxpayers billions.
There are reportedly several bidders to buy the firm. Bulb said Mr Wood was “stepping back from the business”.
A spokesperson added: “We wish him all the best for the future.”
Mr Wood had previously defended remaining in his role after the collapse, telling MPs he was asked to stayed on to help with the company’s sale.
The firm, which has 1.6 million customers, was among 29 energy suppliers which went under after massive hikes in wholesale gas prices.
When Bulb collapsed, the Treasury set aside £1.7bn to buy the gas its customers needed until the end of the tax year in April 2022.
It was hoped by that time the business would be sold but so far no buyer has been found.
The Business, Energy and Industrial Strategy Committee was told the collapse of Bulb was expected to cost the taxpayer £3bn.
This is the biggest state bailout since the Royal Bank of Scotland collapse during the 2008 financial crisis.
The BBC has asked the Department for Business for a comment.
