(By Balaseshan) Manchester United Plc (NYSE: MANU), which operates professional sports clubs and teams, said David Gill will step down as Chief Executive Officer effective June 30, and Executive Vice Chairman Ed Woodward will assume his responsibilities.
Gill joined the board in February 1997 as Finance Director and has been its Chief Executive since September 2003. He will remain as a director of Manchester United Football Club.
In October 2012, Gill was appointed as the Vice Chairman of the English Football Association and has been nominated as its candidate in the upcoming UEFA Executive Committee elections in May 2013.
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"It has been the greatest privilege to serve Manchester United for 16 wonderful years – the last 10 of which as its Chief Executive. I have worked alongside the finest manager in the history of the game and been part of what I consider to be the best club in the best sport in the world," said Gill.
From July 1, Woodward will have overall responsibility for the Club including, in conjunction with Sir Alex Ferguson, facilitating transfer activity. His job title will remain Executive Vice Chairman.
Woodward is a director of Manchester United Football Club, Manchester United Plc, Manchester United Merchandising Ltd and MUTV. He also sits on the Marketing Committee of the European Club Association.
In a revised management structure from July 1, Woodward has appointed current Commercial Director Richard Arnold as its new Group Managing Director, overseeing all commercial and operational aspects of the Club.
The company's Chief Operating Officer Michael Bolingbroke will consolidate the Club's operations under him and will report to Arnold. In his new position, Bolingbroke will be responsible for the Club's local, national and global CSR projects.
MANU closed Tuesday's regular session up 1.67% at $18.82. The stock has been trading between $12.00 and $19.34 for the past 52 weeks.