Manchester United chief executive Richard Arnold will leave his role immediately and Patrick Stewart will replace him on an interim basis.
Arnold will provide ‘transitional support’ until the end of December.
This move comes as the club’s owners finalise a minority stake sale to Sir Jim Ratcliffe, whose INEOS Group will secure the deal for a staggering £1.25 billion.
Arnold’s two-year tenure saw him succeed Ed Woodward in February 2022.
He joined the club in August 2007 and served as the managing director from 2013 onwards.
With Arnold at the helm, Manchester United experienced a resurgence on the field, clinching the League Cup against Newcastle United to end a six-year trophy drought.
His tenure also saw the negotiation of groundbreaking commercial deals with adidas and Qualcomm.
“I would like to thank Richard for his outstanding service to Manchester United over the past 16 years, and wish him all the best for his future endeavours,” Executive Co-Chairman Joel Glazer said (via ManUtd.com).
“We are fortunate to be able to call on the deep knowledge and experience of Patrick Stewart to provide interim stability and continuity as we embark on a search for a new permanent CEO.”
Richard Arnold added: “It has been an incredible privilege to serve this great football club for the past 16 years. Through highs and lows, the constant has been the dedication of our employees and fans.
“I would like to thank all of them for their loyalty and commitment, and wish everyone associated with the club the very best for the future.”
The spotlight now shifts to Stewart, who steps into the role of interim CEO during this pivotal juncture.
The looming completion of the minority stake sale adds an air of anticipation to the club’s future as they prepare for a new era under Ratcliffe’s ownership.
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