Huston’s decision to leave followed an investigation by independent directors.

“The investigation determined that Mr. Huston had acted contrary to the company’s code of conduct and had engaged in activities inconsistent with the board’s expectations for executive conduct, which Mr. Huston acknowledged and for which he expressed regret,” the company said in a statement.

Huston will be replaced at group level by current chairman Jeffery Boyd, who will serve as interim chief executive. While at Booking.com, the chief operating officer, Gillian Tans, will take over.

James Guyette, lead independent director, said: "I am satisfied with the board’s thorough review of this issue. The performance of the business under Darren has been strong, and the company is very well-positioned to continue executing on its strategy for growth.

“Jeff is deeply familiar with the company’s strategy and leadership team, which consists of highly accomplished entrepreneurs and seasoned professional executives with long- tenure in the business."

An independent board committee will now start the search for a permanent successor to Huston.