Chris Rea has resigned as interim managing director of Surgical Innovations with immediate effect.
The entrepreneur and investor is also standing down as a non-executive of the Leeds-based business.
Mr Rea, who holds a 14 per cent stake, said the company needs operational direction and finance and while he is able to provide both of these he is not willing to do so while it remains a public company.
Surgical Innovations said finance director Melanie Ross has also resigned, which will take effect in April. She will be interim MD in the meantime.