Manchester United have confirmed that managing director Richard Arnold will take over as chief executive when Ed Woodward steps down next month.
Arnold, who has worked under Woodward since joining the football club in 2007, is to succeed him from 1 February.
“I am honoured to have the chance to serve this great club and its fans. I am determined to return that honour in any way I can,” said Arnold.
Woodward announced his intention to step down last year amid the fallout from the failed European Super League breakaway attempt.
The former investment banker has been hailed as the mastermind of United’s trailblazing commercial growth but his footballing knowhow has been questioned as the club has struggled to come close to the success of the Sir Alex Ferguson era.
“I would like to thank Ed for his tireless work on behalf of Manchester United during his nine years as Executive Vice-Chairman and 16 years with the club,” said United owner Joel Glazer.
“We are now looking forward to Richard and his leadership team opening a new phase in the club’s evolution, with ambitious plans for investment in Old Trafford, the strengthening of our engagement with fans, and continued drive towards our most important objective – winning on the pitch.”
United currently lie seventh in the Premier League under interim manager Ralf Rangnick, who replaced Ole Gunnar Solskjaer in November.
This season will mark nine years since the club last became English champions, during which time their neighbours Manchester City have become the country’s most dominant team.