Theo Paphitis has confirmed that he is leaving Dragons' Den.
The entrepreneur, investor and former chairman of Millwall Football Club is leaving to spend more time working on his retail chains, including recent acquisition Robert Dyas.
"After nine intense and fun packed series working with the BBC and the Dragons' Den team, sadly it's time for me to say for the final time, 'I am out'," said Paphitis in a statement issued on Thursday morning (February 7).
"This has not been an easy decision or one that I have taken lightly, but with the workload involved in growing my exciting, successful new lingerie brand Boux Avenue both in the UK and internationally, along with my recent purchase of the Robert Dyas retail chain and the running of the 240 Ryman stationery shops, the time felt right to give up my seat, stop breathing fire and allow someone else to enjoy the wonderful experience of being a Dragon on the BBC hit TV show, Dragons' Den.
"So, it just leaves it for me to say thank you to all past and present Dragons, the brilliant production teams that made the show what it is and of course the BBC for allowing me to participate in the first place.
"Thank you Auntie. I am out. P.S: A big 'good luck' to the new Dragons!"
Paphitis has been with the BBC Manchester-produced show since its second series launched in November 2005.
His departure leaves Peter Jones and Duncan Bannatyne as the longest-standing Dragons, and the only two to have served on all ten series of the show.
The news appears to have come as a surprise to Bannatyne, who tweeted: "Theo I don't believe you are leaving & have not told me. Ten yrs together & u divorce me on Twitter!!!!"
Hilary Devey also left the show recently after two series. Her replacement has not yet been announced.
