Allan Duckworth has stepped down as chief executive at Bolton Wanderers, ending his 14-year association with the club.
"It has been challenging at times, but it has always been greatly rewarding," he told the Bolton website.
"As the club begins a new chapter in its history, it feels right for a change, for both myself and the club."
Bolton's 11-year stay in the Premier League came to an end with relegation last month.
Chairman Phil Gartside said: "Allan and I have worked closely together for 14 years, during what has been a hugely successful time for Wanderers.
"Allan played a very significant and pivotal part in that period, and his contribution cannot be underestimated."
Duckworth has also resigned from his role with Bolton's parent company Burnden Leisure.