Davies was first appointed as a non-executive director of the outfit back in July 2020, sitting on its board ever since.
He was also part of the group’s audit and remuneration committees, which included serving as chairman of the latter.
Bosses have given no reason for the surprise departure but say the decision was taken by Davies himself.
They have now paid tribute to the departing executive, thanking him for his ‘expertise and commitment’.
A spokesman for Motability told Car Dealer: ‘Chris Davies has decided to step down from the Board of Motability Operations.
‘We are grateful for the expertise and commitment he brought to the role.’
As well as his role with Motability, Davies also spent four years with Inchcape between 2013 and 2017, where he served as group financial controller & treasurer, as well as a stint as interim group CFO.
He is currently CFO of Diploma PLC, which specialises in transportation, logistics, supply chain and storage.
His departure from Motability was confirmed via a Companies House filing from Motability Operations PLC – which is the charity’s holding company.
The firm, which is owned by Barclays, HSBC, Lloyds Bank, and NatWest Group, made a whopping pre-tax loss of £565m in the 12 months to September 30, 2024.
Davies did not respond to Car Dealer’s request for a comment.