Bruce Buck, the chairman of Chelsea FC, will step down on June 30.
The 76-year-old American, who has served as chairman since Roman Abramovich became owner in 2003, will remain a “senior adviser” to the club.
Buck was expected to stay on as chairman after the takeover was completed in May by a consortium led by American investor Todd Boehly.
“Now is the right time to step down and let new ownership build on the strong foundations we have in place,” he said.
“The owners have a compelling vision for Chelsea’s future, and I look forward to helping them achieve it in this new role alongside our incredible staff, players, coaches and supporters.”
Following Russia’s invasion of Ukraine, Abramovich announced his intention to sell the Premier League club in March, just days before the UK government sanctioned him for alleged ties to Russian President Vladimir Putin.
Chelsea was placed under a transfer embargo, and the club was required to operate under a special license, which allowed the sale to proceed.
During Buck’s tenure as chairman, the Chelsea men’s team won 18 major titles and the Chelsea women’s team won 12.
He continued, “I am proud to have assisted Chelsea in achieving great success on the pitch and making a positive impact in the community.”
Buck had “led Chelsea Football Club to the highest levels of international and domestic football,” according to co-owner Boehly, who thanked him for “his service and commitment to the club.”
