Mr King has said farewell to the publisher following the departure of a number of other senior executives this month.
HTFP understands JPIMedia is not expected to seek a new CEO following his departure.
The move was announced to staff in an email from David Montgomery, the company’s new executive chairman.
He said: “David has led the business through some of the most challenging periods in the industry’s history, initially as CFO and since 2018 as CEO.
“He has developed a business with a strong digital ethos, and we continue to be greatly impressed and encouraged by the passion and quality of the JPIMedia team.”
Mr Montgomery added: “I would like to personally thank David for his leadership and considerable contribution to JPIMedia, and most recently for ensuring a smooth transition to National World’s ownership of the business.”
Group commercial director Andy Sumner, company secretary Peter McCall, group development director Jason Rowse-Davies and interim chief financial officer Cormac O’Shea were revealed as the other departures.
Mr King had been chief executive at the group, including its forerunner Johnston Press, for almost three years, having previously been the company’s chief financial officer.
He oversaw the creation of JPIMedia after Johnston Press went into administration in 2018.
Mr King said: “All three parts of the JPIMedia business now have new owners – the sale of the publishing business to National World on 2 January followed the sale of both the i (in 2019) and the printing division (in 2020) to DMG.
“I am confident the new owners will provide support to the business for the long term, benefiting staff, audiences and customers in the communities they serve.
“I would like to thank all the team at JPIMedia. We have endured through very challenging times, but together we have innovated, created new revenue streams, grown audiences and built a digitally-minded organisation.
“I wish all of you, and the new owners, every success.”
Mr Montgomery previously announced that he would be overseeing the content and digital sides of the business while newly-appointed chief commercial officer Mark Hollinshead would focus on sales.
He has also vowed to decentralise JPIMedia and replace what he termed “irrelevant or clickbait stories” with exclusive local content across its titles.