Fred Olsen Cruise Lines has confirmed that its chairman has resigned from his position and from the company's board.

Chief Executive Peter Deere said Fred Olsen Junior resigned in July, after 35 years in the cruise industry. Mr Deere expressed gratitude to Olsen Jr. for "his support and long service to our company."

He said: “Olsen Jnr has been through the business through thick and thin and he has just made that decision. He said it was the right time to retire".

Deer added: “The management of Fred Olsen Cruise Lines and our holding company continues to be Fred Olsen and Annette Olsen.

"All of us at Fred Olsen Cruise Lines, and our Board, extend our sincere thanks to Fred Olsen Jr. for his support and long service to our company."

Deere said no decision has yet been made on finding someone to replace Olsen Jr. as president.