Bill Bratt has decided to step down as chief executive of Port Vale after three years in the role.
In a statement issued on the club's official website, the 64-year-old revealed that he has handed in his notice to Vale's board, but will remain as chairman until at least the end of the season.
His statement read: "After much consideration, I have decided to step down from the role of Chief Executive Officer. I feel that it is time to hand over the day-to-day running of the football club to another individual and to this end, we intend to advertise the role nationally."
Last month, Vale's eight-man board came under scrutiny for rejecting New York businessman Mike Newton's £500,000 investment offer, and Bratt revealed the financial pressures of his dual roles were part of the reason for his decision.
The statement further read: "The role of chief executive is one which is critical to the success of the club and we will be looking to recruit the best possible candidate to drive Port Vale forward - whoever is appointed will have a challenge on their hands in today's market.
"Personally, it will be a great relief not to have the day-to-day problems to sort out and not to have the daily worry about finances. I also have to think about my health which has not been too good this last year and my family, so I have been thinking about this decision for several months."
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