Chelsea CEO Guy Laurence will step down after Todd Boehly's £4.25billion takeover of the club has been completed.
Laurence is in charge of running day-to-day operations in west London had already decided to leave the club before the ownership change began but stayed on to ensure a smooth transition period.
It is unclear who will step into that role, with the search for a new executive underway under the Boehly's led consortium, according to Goal.
The former CEO at Rogers Communications in Canada and at Vodafone UK, Laurence joined the Blues back in February 2018.
He has been in charge of the day-to-day business and commercial operations since, during a fairly successful period at the club.
Under his guidance, the club’s turnover has grown 20 per cent, from £360m to £435m, and that despite a two-year pandemic putting the brakes on a lot of revenue streams.
Laurence is expected to depart imminently with the Blues close to making an announcement on their £4.25billion takeover after the final hurdle was cleared when the Portuguese government authorised Roman Abramovich's sale of the club.
Portugal's Ministry of Foreign Affairs (MNE) announced on Thursday they have formally given the green light to Todd Boehly's takeover of the Blues.
An MNE statement said: 'The two Competent National Authorities – Ministry of Foreign Affairs and Ministry of Finance – gave the green light to the request received from Roman Abramovich for a humanitarian waiver, allowing the English club to be transacted.'
The decision 'follows the guarantee given by the British authorities that the proceeds from the sale will be used for humanitarian purposes, not directly or indirectly benefiting the owner of the club, which is on the European Union sanctions list'.
They added that the European Commission have also approved the move.
Russian oligarch Abramovich also has Portuguese citizenship, making their government's official approval a crucial and necessary hurdle to be cleared before the takeover can proceed.
Minister of Foreign Affairs João Gomes Cravinho added on Wednesday: 'In relation to Chelsea, of course, there is an absolutely fundamental point here.
'Portugal applies the sanctions that were decreed by the European Union. We do it rigorously, we do it without exception, and that is how we apply sanctions'.
The decision comes a day after the British government finally approved the takeover on Wednesday.
Abramovich is selling the club in the wake of strict financial sanctions on him from the UK government, following Russia's invasion of Ukraine.
The UK government stated the 55-year-old has ties to the country's president Vladimir Putin, and subsequently froze all of his assets, including Chelsea.
The sanctions state Abramovich cannot make any direct or indirect financial gain from the sale, hence the proceeds being used for 'humanitarian purposes'.
Boehly saw off competition from consortiums fronted by Stephen Pagliuca and Sir Martin Broughton and even a late £4.25bn bid from Britain's richest man, Sir Jim Ratcliffe.
A total of £2.5bn will 'be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 per cent to charitable causes as confirmed by Roman Abramovich'.
'The other £1.75bn will be spent on 'further investment for the benefit of the Club', such as on Stamford Bridge, the academy, the Chelsea women's team and the continued funding of the Chelsea foundation.'
