He was groomed to turn the prestigious publishing house Faber and Faber back into a family affair.

But to the surprise of the book world, Toby Faber has parted company with the company founded by his grandfather, Geoffrey, in 1925.

Mr Faber, 35, said yesterday that he was leaving because his role as managing director had meant he was spending more time on administration and less with authors and books.

Mr Faber, whose father, Thomas Erle, remains chairman of Geoffrey Faber Holdings, joined as assistant to the chairman, Lord Evans, in 1996 - the first member of the Faber family to work full time for the company since 1952. He had been a consultant with McKinsey and Co and a corporate finance manager at BZW; at Cambridge he studied physics and management.

At Faber and Faber he was expected to take over from Lord Evans. On joining he said: "Management is my thing. Faber is one of the few independents, and I certainly wouldn't want to change that. I have ideas about business and a longer term strategy."

He became managing director a year later. Last financial year the firm made a profit of £256,000 compared with a £627,000 loss the previous year, and expects "substantial growth" this financial year; the workforce shrank from 100 to 60 after the publisher sold its distribution arm.

The split, though unexpected, is said to be amicable, and Mr Faber hopes to stay within the media industry. Lord Evans has taken over as managing director, and the two are working together to ensure a "smooth transfer".

The company was founded in 1925 by Geoffrey Faber and Maurice Gwyer. Four years later, when the latter left, it was named Faber and Faber - though there was only one Faber. The family still owns part of Geoffrey Faber Holdings, which in turn owns a share of Faber and Faber.