David Gold is to stand down as chairman of Birmingham after 12 years and end his association with the midlands club.
Gold was willing to continue in the role under new owner Carson Yeung after the departure of fellow co-owner David Sullivan, managing director Karren Brady and his brother Ralph Gold.
But Yeung wants to being in Vico Hui, the current chief executive of his company Grandtop International Holdings, to fill the role. And Gold turned down the chance to stay with Blues in a vice-president capacity.
Yeung's representative, Peter Pannu, told the Birmingham Mail: "We have a lot of respect for David Gold and the excellent job he has done for the football club.
"Unfortunately we couldn't offer him the position of chairman which is what he wanted. Vico Hui is to come in as chairman.
"Regrettably our offer to David Gold to become a vice-president has been turned down so we were not able to come to a suitable agreement."
Gold replaced Jack Wiseman as chairman in 1997 after taking control of City along with Sullivan four years earlier.
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