He leaves immediately with a package estimated at pounds 500,000. He has been blamed for the problems which led to three controversial profits warnings and a pounds 20m loss in 1995-96.
TC Group, which created the UK's largest nursing home group following the merger of Takare with Court Cavendish last year, said Hamilton Anstead, managing director, had left on "amicable terms". He receives a payoff of around pounds 400,000.
The group, to be renamed Care First, announced pre-tax profits cut from pounds 21.8m to pounds 17m and said it was taking an exceptional pounds 15.3m tax charge to take account of the decision to end spending on new nursing homes.
Dick Bostock, managing director of Spandex, the Bristol-based sign-making supplier, has resigned to pursue other interests the company said yesterday.