Tom Dengenis, chief executive and director of e-business service provider Asite, has quit. Dengenis said he was resigning for personal reasons after two-and-a-half years with the company.

The announcement was made to the stock exchange last Friday.

Dengenis said: “I came in when the company was a basket case. We’ve put in a lot of hard work and turned Asite into something extremely valuable. The business is now going into a new phase and I am at a point where I can hand over the reins.”

The company, which is listed on the alternative investment market, reported a £2.1m loss for 2003.

It is understood that Dengenis did not always see eye to eye with the company’s main shareholder, property entrepreneur Robert Tchenguiz.

Tchenguiz is a high-profile, multi-millionaire investor, who together with his brother Vincent founded Rotch Group, an investment company in London’s West End.

Gordon Ashworth, Asite’s financial director, has taken over from Dengenis as chief executive until a successor has been found.

In January, Sir John Egan was replaced as non-executive chairman by Colin Goodhall, although he is still a non-executive director.