Jeff Taylor, founder of the online job board Monster.com, is set to leave the firm in August to start a new business venture.

The specifics of this new venture remain confidential for competitive reasons, but Monster has announced it will be assisting in the venture, which will not be employment-related and is still in early development.

Taylor will continue to work for the global online recruiter as an outside advisor to the company on strategic issues and brand-building initiatives.

“Jeff Taylor will long be remembered for recognising the potential of the internet to transform the way people find jobs and companies find talent, and now, that passion for ideas has lead him to seek a new creative outlet,” said Andrew McKelvey, chairman and chief executive officer of Monster Worldwide.

“We are excited about the future of Jeff’s new venture and are pleased he will remain a part of the Monster family in the role of strategic advisor.”