His departure comes three months earlier than initially envisaged when his retirement was announced last November.

Emley told PrintWeek the decision to bring forward his plans was a practical one: "It’s the time of year when chairmen do chairmenly things, such as setting out the stall for the new financial year, and it seemed sensible for the new chairman to do them rather than the old," he said. "It also seemed appropriate having completed the sale of the magazine business. I’m delighted that has gone through, though sad in some ways."

It marks the end of an era for the business, as Emley is the last of the original senior management team hand-picked by founder Lord Gavron. Emley joined the PLC from investment bank Rothschild in 1992 and took over from Gavron as chairman in 1993.

Chief executive Patrick Martell praised Emley’s "fantastic insight and judgement."

"He’s brought an awful lot to the business including a very strong moral compass, and a sense of duty and responsibility," Martell said.

Richard Stillwell, who has been a non-executive director at St Ives for five years, will replace Emley as chairman.