Ivan Gazidis, the reigning Serie A champions’ CEO, will step down when his contract expires next month.
The 58-year-old had been in the San Siro position since December 2018 after serving in the Arsenal boardroom for ten years.
Milan won the Scudetto after an 11-season wait, qualified for the Champions League once more, and improved their financial standing during Gazidis’ four years at the club.
The Rossoneri confirmed on their official website on Wednesday that Gazidis will leave on December 5 despite recent rumors about his future beyond this year.
Milan’s chairman Paolo Scaroni made the following remarks in response to the news: “On behalf of everyone associated with AC Milan, I would like to say a heartfelt thank you to Ivan for his passion and dedication, as well as the significant contribution he has made to the health and success of this football club, representing and enhancing the core values for which it stands.
“As I said during our recent shareholders’ meeting, it is very easy to be the chairman of an organisation which has a CEO of the quality of Ivan Gazidis.
“I would also like to personally wish him some peaceful and well-deserved time with his family and every success in his next professional chapter.”
After a brief absence due to his throat cancer diagnosis in July 2021, Gazidis returned to his regular duties with Milan.
And the South African has acknowledged that the Italian powerhouses were instrumental in his ability to manage personally during a time of extreme difficulty.
“After four wonderful, challenging years I will be leaving Milan,” he said in a statement. “I owe so much to this club, its people, its fans and to this city, that literally saved my life.
“If the club is in a better position now than when I arrived, it is entirely due to the work of those I have been surrounded with, from our ownership, to our chairman, our head coaches, their coaching staffs, our sporting directors, our players and every young boy or girl with dreams in our academies, our scouts, analysts, medical and support staff, our senior management team and all of the extraordinary people who live for and give everything they have for this club.
“I have been privileged to work with them all. I have no doubt that this foundation and the people we have in place in every position will take the club to new levels in the years ahead.
“Finally, I want say a personal thank you to our fans. Our fans have carried their club (and me) through some difficult times through their belief and their strength.
“I will hold in my heart forever the way they showed their support to me when I was not well. They deserve every good thing. I may leave the club, but the club will never leave me.”
With one game remaining before the World Cup break, Milan, which trails Serie A leaders Napoli by eight points, plans to name Gazidis’ replacement “in due course.”