Royal Exchange joint artistic director Greg Hersov has announced he is stepping down after 27 years with the Manchester venue.
Hersov, who will leave after this year's spring/summer season, said he was "proud to have played a part in the Royal Exchange story for the past three decades."
He added: "The Exchange is an amazing, magical space and is of huge importance to the theatre scene in this country. The Company is flourishing – full of fresh energy, new ideas; with a very exciting future."
Hersov has been associated with the Royal Exchange since 1980 when he joined as an assistant director. He became artistic director in 1987, going on to stage productions including All My Sons starring John Thaw, Look Back in Anger with Michael Sheen and The Tempest with Pete Postlethwaite.
His co-artistic director Sarah Frankcom said: "It's impossible to put into words the part that Greg has played in the Royal Exchange's evolution as a theatre and as a company, and the legacy he leaves behind. His work on stage and his collaborations with actors have created unforgettable theatre for our audiences. He has a brilliant theatre mind and it has been a privilege to learn and work alongside him."
Chairman Paul Lee added: "I cannot remember a time at the Royal Exchange without Greg. His influence on the Theatre – and his contribution to the arts in this country – is enormous. I value him as a director, an inspirational force and a friend."