Arrow XL CEO Ian Howell has left the business after four years in the role.
Howell has been replaced by chief operations officer Charlie Shiels, who joined Arrow XL this year after 20 years with DPD, on an interim basis.
A spokeswoman for Arrow XL said Shiels had been asked to fill the role "whilst a comprehensive search is undertaken to find Ian’s successor".
During his time with Arrow XL, Howell was at the helm of the business's transformation from loss-making Yodel XL to a business with pre-tax profit of £2.6m in its most recent financial year.
Arrow XL also won two Motor Transport Awards in 2016, including Home Delivery Operator of the Year.
Howell said: "It’s been an honour and a privilege over the past four years to be part of such a great team and I am extremely proud of the turnaround and success story that is Arrow XL.
With such amazing people, I’m confident that I leave Arrow XL set up for continued success in its ongoing transformation as the UK’s leading two-man logistics partner.”
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Interim CEO Shiels said he "will continue to prioritise improving the customer’s delivery experience and supporting our retail partners at all times".
A shareholder representative for the business, Richard Neal, said: "I would like to extend my personal thanks to Ian for his excellent contribution and commitment to the business over the last four years and wish him every success for the future. He was a key part of the team that turned around Arrow XL’s financial and operational performance, transforming the business from a loss-making division into a profitable, industry award winning, standalone business.
"I am also delighted that Charlie is taking up the Interim CEO role and we can look forward to an exciting future for the business.”
Earlier this year Arrow XL was hit by a major fire which destroyed its Worcester hub. The operator has since opened an interim warehouse and DC in Droitwich Spa, and said its Worcester site will be operational again in 2019.