The CAQ finds itself without a party president, just 6 days into the election campaign.
Stephane Le Bouyonnec tendered his resignation (video)Tuesday afternoon and also announced he wouldn't be running as a party candidate in the South Shore riding of La Prairie.
In June, it was reported that Le Bouyonnec had ties to an online money lending firm that provided high interest loans outside of Quebec.
Le Bouyonnec divested himself of those interests by giving up shares in the company and resigning from the board of Techbanx.
In a statement on his Facebook page, Le Bouyonnec said he didn't want to become a distraction to the party and was stepping down.
He served as the MNA for La Prairie from 2012 to 2014 and was elected president of the CAQ in 2014.
No replacement candidate has been announced yet for the riding.
With files from CTV Montreal.