Former Torquay United chairman Alex Rowe has left the Conference club's board, along with two other directors.
Rowe, along with Mark and Cris Boyce, have stepped down after seven years on the Plainmoor board.
They were part of a consortium which took over the club in 2007 after a period of board upheaval led to the Gulls' relegation to the Conference.
"My time at Plainmoor had run it's course," Rowe, who was chairman from 2007-2009, told BBC Sport.
|Torquay United chairmen since 2007|
|March 2007: Mike Bateson|
|May 2007: Mervyn Benney|
|August 2007: Alex Rowe|
|September 2009: Simon Baker|
|April 2013: Thea Bristow|
As well as Rowe and the Boyce brothers, lottery-winning supporter Paul Bristow also joined the board.
His widow Thea succeeding Simon Baker.
But the club has again fallen on hard times, with after five seasons in the Football League and
A year ago Thea Bristow to join the Torquay board and help finance the club.
"The consortium which the Boyce brothers and father created and I was chairman of was a vehicle of its time and that vehicle needed to move on," added Rowe.
"Hopefully others will step forward now.
"My relationship with everyone at the club is still top notch.
"I have nothing but the greatest respect for the Bristow family, who have done, and continue to do, a great job."
In a statement Thea Bristow thanked Rowe and the Boyce brothers for their involvement at Plainmoor:
"I fully respect their decision and will always fondly remember the wonderful times we have shared together in rebuilding Torquay United," she said.
"They are all committed Torquay United fans and I know they will continue to support the club with the same loyalty and affection as ever before.
"For those of us still on the board at Plainmoor, it remains business as usual.
"We are all extremely excited by the work manager Chris Hargreaves has done over the summer months and can't wait for the new season to get under way," she added.