Jeff Taylor, creator of the Monster job-board, is leaving the company because he claims he feels sidelined.

Taylor, who founded the site in 1994, told a conference organised by recruitment website Onrec.com in London’s Café Royal that he wants to quit Monster and launch a consumer product.

Taylor has embryonic plans for a product unrelated to recruitment targeting people aged over 50, but said the idea has gone no further than a 12-point business plan.

But he said he already has $2m (£1.1m) in venture-capital funding and the new firm will start trading in September. Monster will also have a stake in the new project.

Taylor, who currently has the colourful job title of ‘chief monster’, said that his influence in Monster is waning and he no longer has a strong leadership role. In 10 years, Taylor has seen the site morph from a side business at his Boston ad agency to a multi-billion-dollar global brand.

After selling Monster to TMP in 1995 for $1m (£550,000), Taylor said he only planned to stay for 10 years.

He said: “I don’t feel like it is my company any more. I want to be able to build my own group of people and let them put their trust in me.”

He said: “I don’t have a whole bunch of bungee cords to catch me – do you think I am crazy to go out on my own? I am going to start a business that has nothing to do with recruiting – I will see if I can get lightning to strike twice.”

Taylor hinted that his decision to move out of recruitment is also out of necessity – he revealed that Monster insisted he sign on a no-competition clause that was “about 12 inches thick”.