Richard Arnold is stepping down as Chief Executive of Manchester United, the club announced on Wednesday.
Arnold’s exit comes as United’s owners finalise the sale of a minority stake to the petrochemicals billionaire Sir Jim Ratcliffe.
Investogist gathered that Ratcliffe’s Ineos Sports is acquiring a 25 per cent stake in the club.
Arnold has been at United since 2007. He was appointed chief executive in February 2022.
“It has been an incredible privilege to serve this great football club for the past 16 years,” said Arnold.
“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.”
Accordiing to press release on United’s website, Patrick Stewart will take over as interim CEO, in addition to his existing role as General Counsel.
Arnold will to continue to provide transitional support until the end of December.
The club said that it will carry out a “search process” for a new permanent CEO.
Commenting on Arnold’s retirement, Joel Glazer, Executive Co-Chairman, said: “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.
“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.”
Under Arnold’s leadership, United won their first trophy in six years by beating Newcastle to win the Carabao Cup.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.