Milton Keynes Hospital chairman, David Wakefield, is stepping down after two years in the role.
For the past ten months, Mr Wakefield has been supporting the Royal Bolton Hospital at the request of national regulator, Monitor.
Monitor and the Governors of Bolton have now asked him to continue in that role for a further two years.
Mr Wakefield will remain at MK Hospital until the end of the summer in order to give governors there an opportunity to find a suitable replacement.
He said: “I am genuinely sad at having made the decision. It is clear however that it would not be sensible to continue with the current arrangements given the distances between the trusts and the time required in both.”
The hospital’s chief executive, Joe Harrison, said: “On behalf of the Board I would like to thank David for his work with the hospital.
“We will be disappointed to see him leave, but are confident that the hospital will continue improve and we will continue in our mission to provide local patients with safe, clinically effective care and an excellent patient experience.”