Linda Wachner, chief executive of bankrupt Warnaco Group, has resigned from the board of the New York Stock Exchange, the Wall Street Journal reported.

Ms Wachner chose to leave when the exchange moved to delist Warnaco. Through a spokesman, Ms. Wachner said the resignation was appropriate in light of the exchange's suspension of Warnaco shares.

On June 11 Warnaco, the clothing group that Ms Wachner has run for the past 15 years, filed for bankruptcy protection with debts of $3.1bn, some 30 per cent more than the value of its assets. The company, famous for making Calvin Klein jeans, Speedo swimwear and lingerie, is now in the hands of a "chief restructuring officer" and a banking consortium that has provided $600m of new money.