John Boyle has announced he is to stand down as Motherwell chairman and look to pass on his ownership of the club.
The Motherwell owner revealed he would seek no payment for his shares after deciding to end his 13-year tenure.
Boyle announced at the club's AGM on Wednesday night that he was working with the club's directors on an "ambitious new plan to allow wider ownership".
In a statement, Boyle said: "I have decided to stand down as chairman before the start of next season.
"I will pass on control of the club to current directors who are working with me now on an ambitious new plan to allow wider ownership and involvement in the club for all who care about it."
Motherwell appointed several new directors last year, including vice-chairman Derek Weir and former SNP MP Andrew Wilson.
Boyle added: "It has been their intention to make the club less dependent on myself and I fully encourage these efforts.
"To this end, I will not ask for any payment to me or to my family for our shares in the club.
"It is time for us to hand over the baton. We have enjoyed our years as part of Motherwell's distinguished history.
"Now, we look forward to following the club's progress with new owners, new ideas and, hopefully, new success."
Source: PA
