Bayern Munich said on Tuesday Karl-Heinz Rummenigge will step down after 30 years in the club's hierarchy at the end of this month with former Germany captain Oliver Kahn taking over as chairman.
"It is strategically the most sensible and logical point in time," said 65-year-old Rummenigge with Kahn, 51, to be Bayern's chairman when the new season starts in August.
Rummenigge's departure will herald a new era at Bayern for the start of next season.
Karl-Heinz #Rummenigge to leave his role as #FCBayern CEO. Oliver #Kahn will take over from 1st July. #DankeKalle
— CHAMPIONS (@FCBayernEN) June 1, 2021
He joined the club's management in 1991 as vice-president and then became chairman in 2002, overseeing an incredible period of success.
With Rummenigge on board, Bayern won the Bundesliga title 19 times and lifted the Champions League trophy in 2001, 2013 and 2020.
A former striker who made 95 appearances for West Germany, Rummenigge played for Bayern from 1974 to 1984.
He was part of the team which won the European Cup twice and was voted the Ballon d'Or winner in both 1980 and 1981.