Manchester United have officially confirmed chief executive Peter Kenyon's departure to the Stock Exchange this morning and formally named his successor as managing director David Gill.
It emerged yesterday that Kenyon was on his way to join Chelsea as part of Russian billionaire Roman Abramovich's rebuilding of the club.
Although United released a statement announcing the changes last night, as a publicly limited company they were obliged to make it official to the City.
"The board of Manchester United plc is delighted to announce the appointment of David Gill as its new chief executive with immediate effect, to replace Peter Kenyon who has resigned today," said the statement.
"Mr Kenyon will now go on 'garden leave' in accordance with the terms of his contract."
Manchester United plc chairman Sir Roy Gardner said he was looking forward to a smooth transition during the change of the top man off the field.
"We would like to thank Peter for his significant contribution to the success of Manchester United on and off the pitch in the last six years," he said.
"David, as managing director, has also played a major role in that success, and we are delighted that his appointment will bring both experience and continuity to this position."