Stewart said, "I have been privileged to work at Sky in a uniquely fascinating phase of its development during which it has evolved from an analogue product to the UK's leading digital platform with over seven million customers. After eight years of service to BSkyB, it is now the right time for me to pursue new opportunities." He will leave the company in August.

Stewart was one of the candidates competing to be the company's CEO after Tony Ball resigned last year. The 40 year old Stewart was the finance director since 1998, before which he was a manager in the company's finance division. Along with Ball he oversaw the successful strategy of switching all Sky's customers to its digital service and giving away the set-top decoder boxes that subscribers need. Under them, the company reached its target of 7 millions customers and they saw off the challenge from ITV Digital.

Sky's chief executive James Murdoch said, "Martin has played an enormous role in the success of Sky and has been instrumental in the Company's transition from analogue to digital. He will be leaving the company in a superlative position thanks in no small part to his contribution across the operations and strategy of the Group. On behalf of the management and the Board, I wish him every success in the future and thank him for his committment and personal contribution to the success of the business."

Reports further indicate that Stewart made several million pounds during his tenure.