Russell Hardy has quit as chief executive of Blacks Leisure just one month after dismal results at the group, best known for its camping equipment and cold-weather clothing chain Millets.

Blacks today said the 45-year-old was leaving by mutual agreement and with immediate effect. It is thought his departure follows a difference of opinion with all three non-executive directors, over the cause of the problems besetting the retailer.

A source close to the company, whose biggest shareholder is Mike Ashley's Sports Direct with 29.3 per cent, said Mr Hardy was likely to receive a pay-off lower than his £266,000 annual salary.

He will be replaced on an interim basis by Keith Fleming, the finance director.

Last month, Mr Hardy was reduced to blaming climate change after seeing underlying profits plunge from £22 million to just £100,000 in 2006 and slashing the dividend by 75 per cent. After exceptionals, the group made a £13.8 million loss.

David Bernstein, the chairman rejected claims of personal difference in the boardroom, and insisted issues were over strategy.

He said: “The priority going forward is to implement with urgency the necessary actions for Blacks Leisure to prosper as the leading specialist retailer in the growing outdoor and boardwear markets.”

Separately, Blacks confirmed a strategic review of Freespirit, its snowboarding-to-surfing store chain.

Mr Hardy, who took over as chief executive in January 2005 after joining from opticians Dolland & Aitchison, said he “wished the business much success in the future”.

Blacks has been trying to establish its Blacks Leisure and Millets chains in out-of-town sites.

It has also been putting more focus on building up own-brand clothing business. Nearly 50 stores, mainly in the Millets chain, are being closed in a bid to “weatherproof” the group.

Mr Hardy today said: “Blacks Leisure has iconic brands, an exciting business proposition and a strong team behind it.”

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