Chelsea have announced that chairman Bruce Buck is to step down from his role on 30 June.
The 76-year-old American, who had been chairman since Roman Abramovich became owner in 2003, will continue to support the club as a “senior adviser”.
Explaining his decision on the Blues’ official website, Buck said: “I am proud to have helped Chelsea realise great success on the pitch and make a positive impact in the community.
“Now is the right time to step down and let new ownership build on the strong foundations we have in place.
“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.”
It had been thought that Buck would remain chairman after a consortium led by American investor Todd Boehly completed its takeover in May.
Boehly, co-controlling owner of Chelsea following a takeover in west London that saw Russian billionaire Roman Abramovich sever ties with the club, added on Buck: “Bruce has led Chelsea to the highest levels of international and domestic football, while also developing one of the most active social responsibility projects in sport. We thank Bruce for his service and his commitment to the club.”
Buck’s departure comes amid a time of huge flux at Chelsea, with Guy Laurence also leaving his role as SEO while director Eugene Tenenbaum has been sanctioned due to his financial connections with Russia.
During Buck’s chairmanship, the Chelsea men’s team claimed 18 major honours and the women’s team won 12.
Chelsea won the Premier League title for the first time in 2004-05, with Jose Mourinho’s appointment as manager ushering in a new era for the Blues.
They have claimed a further four top-flight crowns since then, while in cup competitions Chelsea have won the FA Cup on five occasions since 2003.
The League Cup has been captured three times and the Community Shield twice. European success has seen the blues delivered Champions League crowns in 2012 and 2021, as well as the Europa League trophy in 2013 and 2019.
The UEFA Super Cup and FIFA Club World Cup were both secured in 2021 on the back of the Blues’ last triumph in continental competition.