He said: 'The commission has now successfully completed three major rounds of grant awards. Its has made 185 grants totalling£1,235m to a wide variety of projects across the country. Some further grant awards are still to be made but its is possible to reduce the number of staff employed on projects and to increasingly concentrate on monitoring grant payments.
'The Millennium Experience in Greenwich was given the go ahead in June and is now well underway. The programme of awards to individuals is growing with award partners being added all the time. We shall build on the good work already underway to publicise the commission's activities.
'The commission has decided that the changing workload makes possible a smaller management structure and that there is not need for a separate chief executive post. Eric Sorensen will leave the commission in March. It is intended that the take of accounting officer thereafter will be performed by Mike O'Connor.
Mr Sorensen said: 'This restructuring is a necessary part of managing the work of a short-life body such as the Millennium Commission. I have enjoyed by time as chief executive and believe that we have made grants to some remarkable projects which provide a fitting celebration of the millennium.'