Bayern Munich chairman Karl-Heinz Rummenigge is making way for his successor, goalkeeping great Oliver Kahn, earlier than the club expected.
Rummenigge signed a termination agreement six months ahead of schedule with the club.
"It's the most logical time for a step like that," Rummenigge said. "It's a farewell full of satisfaction and pride. I have the pleasure to hand over a well-oiled club when it comes to sporting, economic and structural purposes."
Also Read | Barcelona sign Man City legend Sergio Aguero on free transfer
After the departure of former president Uli Hoeness two years ago, the Bavarians continue the generational change at the leadership level, reports Xinhua.
Former German goalkeeper Kahn joined the side in January 2020 to ensure a smooth handover in a so-called on-boarding process over two years.
Over the past months, Rummenigge slowly retreated from daily operations while Kahn initiated the change of coaches after 2020 sextuple winner Hansi Flick announced his departure.
Also Read | Real Madrid appoint Carlo Ancelotti as head coach
Kahn entirely took over negotiations with Flick's successor Julian Nagelsmann.
Turning 52 this June, Kahn increasingly took over the club's administration, announcing a strict savings policy after signing Leipzig defender Dayot Upamecano for 42.5 million euros.
