Arsenal have confirmed CEO Ivan Gazidis has resigned to take up a new role with AC Milan.
Raul Sanllehi and Vinai Venkatesham will take over the position at the Emirates.
Gazidis will reportedly earn a £1million pay rise at the San Siro as he takes up the same role with the Italian giants.
He has spent almost a decade in the Emirates hotseat and has impressed the hierarchy at the Rossoneri.
Milan, one of Europe’s biggest clubs, were the subject of a takeover by American hedge fund Elliott management over the summer.
It has brought a signification injection of cash at the San Siro as Milan look to challenge Juventus for the Italian title.
Gazidis played a major role in bringing Unai Emery to Arsenal following the departure of Arsene Wenger from the north London club.
Milan were initially banned from European competition by UEFA in June for infringing Financial Fair Play regulations.
But the Court of Arbitration for Sport overturned the ruling the following month, with Milan subsequently being drawn to play Olympiakos, Real Betis and Dudelange in the Europa League.
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