Manchester United has announced that Richard Arnold, formerly group managing director, will become its chief executive officer, effective from February 1, 2022.

Ed Woodward will step down from his role as executive vice-chairman.

Arnold said: “I am honoured to have the chance to serve this great club and its fans.

“I am determined to return that honour in any way I can.”

Manchester United executive co-chairman Joel Glazer said: “I would like to thank Ed for his tireless work on behalf of Manchester United during his nine years as executive vice-chairman and 16 years with the club.

“We are now looking forward to Richard and his leadership team opening a new phase in the club’s evolution, with ambitious plans for investment in Old Trafford, the strengthening of our engagement with fans, and continued drive towards our most important objective – winning on the pitch.”