YTB International Inc. (YTB) has announced the resignation of John Clegg as chief financial officer (CFO) this week.

The board of the online travel services provider, which has representatives based in Bermuda, the US, Canada, the Bahamas, the US Virgin Islands and Puerto Rico, has appointed CEO Robert Van Patten as interim CFO until a replacement is found.

"John was a well-respected and vital member of our executive team and the value he contributed to the organisation is immeasurable," said Mr. Van Patten. "His leadership will undoubtedly be missed. The company wishes him the very best in his future business endeavours."

At least 700 Bermudians have already signed up with YTB, including Independent MP and former United Bermuda Party leader Wayne Furbert, who set up his own affiliated business in 2008, and Kenneth Minors, based in Lexington, Kentucky, who runs Minors Travel, a franchise of YTB Travel, of Illinois, as previously reported by The Royal Gazette.

YTB's total revenue for the third quarter of 2009 dropped 62 percent to $15.9 million compared to $42.2 million for the same period in 2008 due to a fall in the number of new Internet Business Centers (IBC) sold and a decrease numbers of active IBC site owners, but net income rose to $360,000 versus $290,000 over the same duration, largely down to a cost-cutting programme and the reduction in costs associated with IBC sales and active site owners.