Bradford City have parted company with chairman and chief executive Edin Rahic by mutual consent.
Former co-owner Julian Rhodes, who rejoined the club last month, now becomes interim chief executive until the end of the current season.
The decision comes following an alarming downturn in form for the League One outfit on the field and troubling news and rumours off it.
Rahic brought the club with majority shareholder Stefan Rupp three seasons ago, guiding City, under boss Stuart McCall to a Play-Off Final in their first campaign.
However the following season saw McCall sacked in controversial circumstances and also the departure of numerous off the field staff including COO James Mason.
This campaign has witnessed declining crowds, one manager sacking and the club slipping to the foot of the Sky Bet League One table.
Rupp said: “The time for change has come and this marks the beginning of a new chapter for the club. The people of Bradford deserve much, much better."
“I will do everything in my power to wash away the dreadful memories of the last 12 months and consign them to the history books for good.
“I have invested significantly in the club over the past two seasons and will continue to do so.
“David Hopkin (manager) has begun to turn our on-field fortunes around and he and the players need your support to help us in the hugely-challenging weeks and months ahead.
“I am pleased to have Julian on board and he will continue to play a key role in getting us back on track.
“It is time for us, our supporters, partners, staff and players to push forward - together.”