ICAEW chief executive Eric Anstee has stepped down.

Anstee, who has been embroiled in some of the bitterest disputes in the profession during his time in the role, formally announced his retirement today.

The institute said that he has 'put [the] institute on the map'.

Institute president Ian Morris said: 'When we took the decision to appoint a chief executive in 2003 we did so because we realised the need for firm leadership. Eric took the role, committing to a period of three years. His appointment has been more than vindicated.'

Anstee had 'driven the institute forward at a dramatic pace,' Morris added.

Council members are understood to have been told the news yesterday, with his decision having been made as early as January.

The body issued the news this morning, simultaneously outlining a long list of Anstee's achievements, citing his establishment of a Global Accounting Alliance amongst other things.

But his tenure may well be remembered more for the failed merger attempts with CIMA and CIPFA, and for the handling of the fiasco over the award of preferred supplier status to the company of the institute's former president-elect Graham Durgan.

The timing of his departure will itself raise further questions that it is more of a resignation than a retirement. The institute has announced the news in the middle of its annual meeting of council members, at which senior institute officials have been discussing the body's handling of the Durgan affair.

A key review of internal controls by president Ian Morris was due to be outlined at the meeting.

In an interview with Accountancy Age, which we are simultaneously podcasting, Anstee strongly denied any link.

'There's no connection at all,' Anstee told Accountancy Age.

'And Graham did the right thing stepping down, he acted with great integrity,' he added.

Anstee said he had told the institute in September 2005 he was thinking of doing just one more year of his annual contract, then confirmed in January that this would be the case.

His time in the role has seen great change at the institute, with his attempt to consolidate CIPFA and CIMA with the ICAEW, while trying to change the name of the institute to ICA creating the greatest controversy.

He also oversaw the introduction of continuing professional development for members, and most recently looked to grow the institute's profile and influence internationally.

Anstee is prepared to stay until the end of his current contract, which runs out at the end of the year, as the institute looks for his successor.

Accountancy Age will have more comment from key industry figures throughout today on Anstee's departure.