Myners was leading the search for a replacement for long-time chief executive Lord Chadlington, who announced in August that he would be retiring once a successor was in place.
However, the group announced last week that:
"Lord Myners has resigned as chairman of Huntsworth with immediate effect. The time commitment required for this role has proved to be more than Lord Myners envisaged and it is considered appropriate that a new chairman should take the lead on the appointment of a new chief executive officer. An announcement regarding a new chairman will be made as soon as possible."
Terence Graunke, who recently led Lake Capital's acquisition of MHP and Mischief parent company Engine, is an independent director of Huntsworth.