George will not be directly replaced; instead, his role will be split between the national sales director, Simon Daglish, and the business development director, John McGeough.
News of his departure came one day before the company revealed some of the poorest financial results since it was formed from the merger between Capital and GWR in May 2005. Revenues fell by 9 per cent to £200.1 million.
George had overseen the introduction of Capital Radio's two ads per break policy, which has not achieved its aim of stabilising the station's revenues. He leaves on 8 June and is understood not to have a job to go to.
Previously the sales director of GWR's Opus sales division, he was made commercial director of GCap following the merger.