Philippa Slinger, chief executive of Heatherwood and Wexham Park Hospitals NHS Foundation Trust, will leave the post to take up another role on March 21.
It was not disclosed where she is moving to.
Ms Slinger has come under increasing pressure to step down after two damning reports from the Care Quality Commission, revealing a string of failings at crisis-hit Wexham Park Hospital.
Ms Slinger was unavailable for comment this week. A letter from trust chairman Mike O’Donovan read: “Philippa has made an extraordinary personal commitment in the last two and a half years in bringing our trust from some of its most dark times to a point where we are now working on a range of programmes to improve both the care we deliver and everything else we do.”
The trust is in discussions to be taken over by Frimley Park NHS Foundation Trust, with a decision expected in April. The move is expected to secure the long-term future of the trust.
Mr O’Donovan added: “As part of these discussions it has been acknowledged that the chief executive of the enlarged trust would come from Frimley Park and that at some point Philippa would move on to a new opportunity elsewhere. Even though I have been aware of this, it is with great personal sadness that I now announce her departure.”
The trust’s board has agreed that deputy chief executive Grant MacDonald will step up to acting chief executive from March 21.
Ms Slinger was handed a hefty £185k-190k pay packet after being appointed permanently in April 2012 to turn around the cash-strapped trust. She has reduced the trust’s running deficit from £13.9m that year to £6.9m at the end of the last financial year.