James Murray, director of the London International Wife Fair, has confirmed to Harpers he is to step aside in the new year and look at new opportunities ahead of a potentially challenging year for the exhibition.

Murray, who has been been the figurehead for the UK's major wine and spirits trade fair for the last few years, having joined exhibition organisers Brintex in 2002, said he thought it was the right time to move on.

He told Harpers: "After 10 years, I felt it was time for a new challenge and I have a number of opportunities that I am considering at the moment. It has been a privilege to work on the LIWF and I have made some great friends in the process."

Murray's decision to move on comes at at particularly sensitive time for the LIWF as the increasingly competitive UK market has resulted in an increasing number of major wine companies and distributors deciding not to exhibit at the annual London event in May.

But Murray has always remained a popular figure and is held in high esteem across the wine and spirits trade and news of his departure will take many by surprise and be seen as a potential loss to the sector.

Brintex, the LIWF's organisers, has been quick to find a replacement for the respected Murray, turning to Ross Carter, who has previously worked as international sales manager for LIWF before joining PLB in 2011.

Murray said: "I am delighted to say that my successor is Ross Carter, who worked on the LIWF between 2007 and 2009 and has most recently been one of the wine buying team at PLB. Rest assured, Ross and I will be having a detailed handover before I leave and he will inherit and manage any existing projects that I am currently involved in."

Murray is due to leave Brintex and LIWF on January 11, 2013.