Sir Chips Keswick, chairman of Arsenal Holdings Limited, has retired after seven years at the helm of the club.
Lifelong Arsenal fan Sir Chips, who turned 80 in February, has been a member of the Arsenal board since 2005.
In a statement, Stan and Josh Kroenke said: “We would like to express our immense gratitude for everything Sir Chips has done for Arsenal Football Club as a board member and chairman of the board over the past 15 years.
“His extensive business knowledge and experience coupled with his deep love of Arsenal have made him the perfect chairman. It has been a privilege to work with him and he will always be a very welcome visitor when we return to playing matches at Emirates Stadium.”
Sir Chips, a former chairman of Hambros Bank and director of the Bank of England, said: “It has been an honour to be the chairman of this great football club. Arsenal has always held a special place in my life and that will remain the case in the future.
“I made my plan to retire at the end of this season clear to the board, before the global health crisis we are now experiencing. The club is in safe hands with Stan and Josh, the board and the executive team. I know Arsenal will emerge strongly from this situation and I look forward, like all our supporters around the world, to seeing the team in action as soon as possible.”
Moving forward the board will be composed of Stan Kroenke, Josh Kroenke, Lord Harris and Ken Friar. Stan and Josh Kroenke added: “Our primary concern at this difficult time is the health and well-being of our staff and players. It’s also our intention to ensure Arsenal Football Club emerges from this crisis in a strong position. That’s what we’re all working on every day.”