The chief executive of the British Olympic Association has resigned.

Andy Hunt, chef de mission for Team GB at the London 2012 Games, leaves after four years at the organisation. A board meeting of the BOA was informed of Hunt's resignation on Wednesday.

The BOA is under financial pressure and has yet to agree any deals with sponsors since the end of the Games last summer, which led to commercial director Hugh Chambers resigning last month. Under Hunt, the BOA went through a large expansion before London 2012 and has since announced a slimming down of the organisation.

Hunt said in a statement: "It has been an amazing four years leading the BOA as the host National Olympic Committee for the London 2012 Games. I will always be proud to have led Team GB at a home Games and of the fantastic performance of the team this summer and the way in which the BOA supported the athletes.

"Now that the Games are over, and the organisation's strategy for the next four years is taking shape, the BOA's responsibilities and the job of the CEO are different, and I feel it is the right time for me to move on to another leadership role with breadth and profile similar to the responsibilities I've fulfilled since 2008."

An interim chief executive will not be appointed once Hunt has left. The BOA management team will instead work directly with Lord Coe, the organisation's new chairman. Lord Coe, who was also chairman of the London 2012 Games organisers, thanked Hunt for his work in preparing British athletes to perform under the pressure of a home Games.

He said: "Team GB had the very best facilities, care and preparation at the London 2012 Games thanks to the tireless efforts and passion of Andy Hunt and his team over the last four years. I know I speak on behalf of all Team GB athletes and the BOA board when I say thank you to Andy for the work he has done, and I wish him all the best in his next endeavour."

The modernisation of the organisation and the introduction of business best practices in areas such as corporate governance, strategic and operational planning and the relocation of the organisation's headquarters to central London have all been major events under Hunt's reign.

Sports minister Hugh Robertson said: "Under Andy's direction, the British Olympic Association has undergone a significant transformation and reinforced its reputation as one of the leading national Olympic committees in the world.

"Today, the BOA is recognised as a modern, professional organisation that has as its highest priority serving the needs and interests of athletes and national governing bodies." website of the BOA)