Financial guru Eddie Hobbs is reported to have quit Renua, the party that failed to secure a single seat in the last general election.
Mr Hobbs, who founded Renua along with former minister Lucinda Creighton, is reported to have said that it needs to reposition itself as a liberal democrat party.
The party’s survival is now in serious doubt with no Oireachtas representation.
Lucinda Creighton, Billy Timmins, Terence Flanagan and senator Paul Bradford all lost their seats in the general election.
Offaly councillor John Leahy remains a party member.
The Sunday Independent recently reported a push from within the senior ranks of Renua to “shake off” all associations of being an orthodox or conservative Catholic political organisation.
It is hoped the rebrand will attract a new leader from outside the party who is a serving national politician.
Mr Hobbs was Renua’s party president but did not run in the general election.
© Irish Examiner Ltd. All rights reserved