Cate Blanchett and husband Andrew Upton quit Sydney Theatre Company

Australian star Cate Blanchett and her playwright husband Andrew Upton are to quit their roles as co-artistic directors and CEOs of Sydney Theatre Company.

The couple, who launched the programme in 2009 and are believed to have turned the company around financially, have reportedly said that they only ever intended to stay in the roles for a set period of time.

STC chairman David Gonski said in a statement published by AAP: "As they announced at the launch of the 2012 season, it was always their intention to only stay for two terms. We asked Cate and Andrew to stay on but we respect their decisions to leave in two years' time to pursue other professional interests.

"As co-artistic directors and CEOs, with inspirational leadership, Andrew and Cate turned around the STC's finances and made it a sustainable business while taking it to new artistic heights. They are a couple not only of extraordinary talents and profile, but they have a strong business sense and a strong financial rigour."

Blanchett and Upton were believed to be leaving Sydney Theatre company in 2010, but extended their contracts, saying: "It is a really great privilege to lead Sydney Theatre Company. We hope more and more people, especially those in Sydney, will find their way to the company and join us on this incredible ride."

The couple will reportedly end their current stints in 2013.

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