Lastminute's founder steps down

Martha Lane Fox, co-founder of popular travel website Lastminute.com, has annouced she will depart the company at the end of the year.

The darling of the dot.com era, Ms Lane Fox became an internet celebrity after launching Lastminute.com with Brent Hoberman five years ago.

Lastminute.com, which sells bargain flight tickets and travels deals online, made a full-year profit of £200,000 compared to a £16.2m loss last year.

In a statement, Ms Lane Fox said: "It has always been my ambition to see the Group deliver a full year of profitability. Now this has been achieved, it is the right time for the business and the right time for me to explore other challenges."

Lastminute has recently linked up with online hotel site WorldRes to offer a wider choice of deals to online travellers. Hotels covered by WorldRes include Accor, Hilton International and InterContinental Hotels.

Ian McCaig, Lastminute's chief operating officer since August 2003, will become the group managing director. Lane will stay on the company's board as a non-executive director and major shareholder.

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