Linfoot will depart at the end of December after two years with Saga.
A Saga spokesperson said: “Following a restructure of our travel business we are combining the tour operations and cruise roles to create a CEO of Saga Travel.
“Jeannette Linfoot, managing director tour operations, has decided that she would like to leave the business.”
Saga added that Linfoot had “overseen a significant increase in revenue and commercial success”.
It comes after the group announced last week that 100 people from across the business were to be made redundant.
Separately, Saga also reported a £2 million hit from the collapse of Monarch Airlines.
