Sheffield Wednesday chief executive Nick Parker is to part company with the club.
Parker, appointed to the board at Hillsborough alongside former chairman Lee Strafford in December 2008, has been given "notice of termination".
A club statement read: "For the time being, he remains employed, albeit he will not be carrying out any duties for the club.
"The club would like to thank Nick and recognise his contribution to the business during his time here at SWFC.
"The terms of his departure are being dealt with on a professional and cordial basis."
Parker and Strafford were brought in by the club's previous board of directors with the specific remit of securing major investment in the club and new owner and chairman Milan Mandaric completed his takeover at Hillsborough in November.