In a brief statement, the airline said that Brian Challenger would now be in "charge of the day-to-day operation of the company until a new chief executive officer is appointed".
LIAT's Chairman Dr Jean Holder said Challenger, an Antiguan national, has had a long working relationship with the company and has been a serving board member since 2006.
"Working from LIAT's head office in Antigua, Mr Challenger will ensure continuity and will see to the smooth operation of the company ..." said Holder.
"We would like to assure our customers, suppliers, employees and the public at large that despite the change in the company's leadership, our focus and mission remain the same - to transform LIAT into a profitable carrier, dedicated to high-quality customer service."
The statement said Challenger's background is in aviation law and that he has been involved with LIAT for the last 10 years in various capacities.
On Tuesday, the airline said it had parted ways with Darby with immediate effect.
Contractual relationship
"The board of directors of LIAT (1974) Limited wishes to advise on the conclusion of the company's contractual relationship with Mr Mark Darby as chief executive officer of LIAT (1974) Limited with effect from Tuesday, 21st April 2009," read the statement.
The airline said that it appreciated the work done by Darby "in those areas that have brought value to LIAT over the past three years".
- CMC