The departure means that Waterstone's-parent HMV Group chief operating officer Brian McLaughlin will postpone his retirement, slated for the end of this year, to take on the role of acting managing director for the bookseller. He will keep his present job at HMV, while taking up his new post with immediate effect.
Group chief executive officer Alan Giles said that Gilbert had left Waterstone's in good shape and wished him a speedy recovery.
Gilbert said: 'Following a most enjoyable period of six months at Waterstone's, I have chosen to resign from the company due to a period of ill health that has prevented me from being able to carry out my duties fully. I intend to pursue my literary interests while I recover and wish Waterstone's every success for the future.'
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