Holland, who was 65 earlier this month, said the move had been decided some time ago between himself and owner Sir John Madejski.

BGP picked up the award for Consumer Magazine Printer of the Year at the event. "It’s a good way to go out, and it fitted quite nicely," Holland told PrintWeek. "It’s a fairly self-contained organisation now with Steve Palmer running Stones, and Lindsay Atkinson at BGP. It’s a good time to let them get on with it."

PrintWeek understands that it is unlikely Holland’s role will be directly replaced at the business.

Holland joined Goodhead in 2006 and was the architect of a massive investment project at the business, all bankrolled using Madejski’s personal fortune. However, the anticipated returns have yet to materialise at the £68m group, although it did reduce its losses in the last year.

Holland added: "Everyone is disappointed that the economy has slowed everyone down, but I’m pleased it’s going in the right direction now."

He also had a personal financial stake in the business. "The chairman [Madejski] is taking my stake over, we've done a deal we're both happy with," Holland explained.

In a statement Sir John Madejski said he would like to personally thank David on behalf of the board for turning the business around.

Prior to working at Goodhead Holland had a long career at Polestar, retiring from that group in 2004.