Dawn Airey, the chairperson and chief executive of Five, is leaving following the channel’s purchase by Richard Desmond.

“The day Five was sold, my job was done,” Ms Airey said in a statement.

“I will be returning to the RTL Group but over the next few months will remain in post with a number of my senior colleagues to facilitate the integration of Five into Northern & Shell.”

BBC News Online reports that seven of Five’s nine executive board directors will also leave as part of Desmond’s changes to the channel.

Plans to invest £1.5 billion in the channel for programming over the next five years were also confirmed.

Desmond’s Northern & Shell company bought Five Group for £104 million last month.

Airey will take up a senior role with Five’s former owner, the RTL Group, but will continue as Five’s boss for several months to help run a cost-efficiency programme which, it is hoped, will return the broadcaster to profitability.