Arsenal's CEO Vinai Venkatesham will step down next summer, the Premier League team announced on Thursday.
Venkatesham joined Arsenal in 2010 and was appointed managing director in 2018, after Ivan Gazidis left to join AC Milan, before being named CEO in 2020.
"This was a tough decision, but it is time to pursue another challenge. Now is not the time for goodbyes as I remain focused until my last day and supporting a seamless transition," Venkatesham said in a statement.
He will leave with the club enjoying a resurgence under manager Mikel Arteta, having finished second behind Manchester City in the Premier League last season and qualifying for the Champions League for the first time since the 2016-17 campaign.
"The board is fully supportive of Vinai's desire to pursue his next challenge," Arsenal co-chair Josh Kroenke said.
"Whilst it is business as usual with everyone focused on the season ahead, we'd like to take this moment to thank him for his contribution and long service...
"Change and succession is something the club is well prepared for. The board remains committed to our strategy and will address leadership change as we continue to drive the club forward."
Arsenal, who are in fifth place two points behind leaders Manchester City, visit Everton on Sunday.
Kyle Walker extends Manchester City stay until 2026
Kyle Walker has signed a contract extension at Manchester City until 2026, the club said Thursday.
The England defender links with a move to Bayern Munich during the last transfer window were ended after confirmation of an extension for the 33-year-old Walker, who joined City from Tottenham Hotspur in 2017.
“My future is with Manchester City and that is the best thing for me," he said.
“I am delighted to continue at a club that competes for trophies every year and I can't wait to see what the next few years bring.”
Walker has won five Premier League titles, the UEFA Champions League, two FA Cups and four League Cups in his time at the club. He has won 15 trophies in total at City, where he has made 260 appearances. He has also played 78 times for England.
“He is an outstanding footballer and his speed, strength and experience make him such an important member of our squad," City director of football Txiki Begiristain said. “For me, he is the best right-back in the world, a player with a unique set of attributes. He brings a very special dynamic to our team."
