Stephenson (pictured above) has been at the UK aviation regulator for almost six years, joining from Centrica, where he was interim group director of comms.
In 2018 he was appointed an OBE in the New Year's Honours list, awarded partly for his handling of comms around Monarch Airlines' collapse, which led to a huge repatriation effort to get Monarch customers back home.
A CAA spokesperson said: “The recruitment process for a new director of communications is nearing completion, and we wish Richard every success in his new role.”
Stephenson said: “After six amazing years at the CAA, I had the opportunity to move to a global role as the CEO of Aerotime HUB. I will always remember my time at the regulator fondly and wish my many friends at the CAA all the very best with their future work, especially in these challenging times. We achieved some pretty amazing things, but it was time for me to take my next step and tackle new and different challenges.
"I am excited to work in a role that combines my two passions – aviation and media – and am looking forward to leading the Aerotime HUB through its next phase of expansion and to playing our role as the industry recovers from the COVID crisis.”
His previous in-house roles include director of corporate affairs at AXA UK & Ireland and director of PR at The Post Office. Stephenson also worked agency-side, with stints as MD at Prosek Partners and director at Smithfield Consultants.