Ed Woodward will leave Manchester United in April.
The current executive vice chairman, who took over the role in 2013, will leave that position on the first of February but will remain on the board for a short period before exiting the club.
Woodward has overseen spending in excess of 1 billion pounds in his time since duo Sir Alex Ferguson and David Gill retired, however the Manchester club have not won a league title in that period.
Reports on Woodwards exit began in the wake of the European Super League fiasco last year.
Richard Arnold will become the new chief executive at Old Trafford. He has overseen numerous big commercial deals as managing director of United Group since 2013.
