He will leave the business at the end of August 2019, following 31 years with the Fred Olsen companies, including his first role as accountant for Fred Olsen’s first-ever designated cruise ship, Black Prince.

Rodwell said: “After a great deal of thought, I have taken the decision to retire shortly after my 60th birthday. It has certainly not been an easy decision, and one that I have not taken lightly.

“In my time with Fred Olsen, I have worked in a number of varied roles and have seen the cruise lines enterprise grow from humble beginnings and with only one ship, to the hugely successful operation that it is now, with four ocean ships, our new river ship Brabant and a customer base that continues to expand, despite the market being more competitive than ever.

“I would like to thank all of the many people whom, perhaps without even realising, have made my long career with Fred Olsen such an enjoyable one.

“I will look back at those 30 plus years with immense pride at all we have achieved together, and I know I will miss it.”

Fred Olsen Jnr, chairman, added: “Having worked very closely with Mike over the years, I will miss his wise counsel and good humour. Everyone at Fred Olsen wishes him the very best for the next stage of his life.”

The process to appoint a new managing director at Fred Olsen is currently under way.