Southampton chairman Ralph Krueger has left the club by mutual consent after five years.
Following talks with owners Gao Jisheng and Katharina Liebherr, it was decided not to renew Krueger's contract, which ended on 30 June.
"Everything has a beginning and everything has an end," said Krueger, 59. "It is the journey in-between that I will treasure."
Saints are 17th in the Premier League, five points clear of relegation.
Canadian-born German Krueger is a former professional ice hockey player and coach.
"Ralph laid the foundations for the Saints to be a sustainable team that put pressure on the top sides in the Premier League," said Liebherr.
His departure follows that of vice-chairman Les Reed, who became the Football Association's new technical director in December.