Manchester United plc announced Wednesday that Richard Arnold has “decided to step down” as chief executive officer after 16 years with the Premier League club.
Patrick Stewart will take over as interim CEO, in addition to his existing role as general counsel, with Arnold continuing to “provide transitional support until the end of December”, the club announced. A search process will be carried out for a new permanent CEO.
Arnold was elevated to CEO in February 2022 after the departure of former executive vice chairman Ed Woodward.
Arnold’s departure comes at a time when American owners the Glazers are seeking new investment and British billionaire Jim Ratcliffe is attempting to buy a 25% stake in the 20-time league champions, AP reports.
Stewart said: “Together with my leadership team colleagues, my job will be to ensure that the club’s foundations remain stable while we embrace changes that can make us stronger over the long term, both on and off the pitch, and to support the search for a new permanent CEO.”
