MAN UTD CHIEF EXECUTIVE OFFICER TO LEAVE CLUB – Richard Arnold to leave role as chief executive
Manchester United chief executive Richard Arnold is to leave the club by the end of the year. Arnold is to leave after just two years in the job as United’s owners finalise the sale of a minority stake to the petrochemicals billionaire Sir Jim Ratcliffe.
He will hand over operational control of the club immediately and will be replaced as interim CEO by General counsel and board director Patrick Stewart, who has been with United for over 17 years, will be become interim CEO, allowing the club’s future owners to take time to identify a new long-term CEO. The English club’s future ownership remained uncertain after the American Glazer family last year said they were looking at options for the 20-time English champions, including a new investment or a potential sale.
Arnold was appointed CEO less than two years ago, when he took over from executive vice-chairman Ed Woodward and filled a role that had been left vacant since 2013.
Tasked with reviving the club’s fortunes, Arnold in April last year brought on team manager Erik ten Hag, who has also come under intense pressure in recent months because of the club’s lacklustre performance on the field.
Under Arnold’s leadership, United posted record revenues and bagged a couple of major sponsorship deals, including a $1.1 billion Adidas kit deal for 10 more years in August.