Rob Shaw, above, of the Culgruff Hotel at Crossmichael went missing late on Friday afternoon.
Police, volunteers and mountain rescue teams were involved in the search for Mr Shaw, who was CEO of the Crichton Trust and chairman of the Crichton Development Company.
The search went on throughout Saturday and the Galloway Mountain Rescue Team was called in to help and they made extensive searches in the area.
Members of the Moffat Mountain Rescue team were also called in on Saturday night to help but were stood down early on Sunday. Nineteen of their members were involved in the search.
Mr Shaw had been last seen by staff at the hotel on the outskirts of the village about three miles north of Castle Douglas.
A Police Scotland spokesman said: “The search for Mr Shaw has been called off after the body of a man was found on Sunday. Thanks to everyone for their assistance.”
Tributes have been paid by many people including the Crichton Trust.
A spokesman said: “This is devastating news for Rob’s friends, colleagues and all of us here.
“Our thoughts are with his family at this difficult time.”
