Everton director Sasha Ryazantsev will leave his position at the end of August.
Ryazantsev joined the Goodison Park hierarchy in March 2016 as the appointed representative of majority shareholder and long-term associate Farhad Moshiri.
He was later installed as the club’s first Chief Finance and Commercial Officer while also serving as managing director of Everton Women from last year.
“It has been a great honour and privilege to serve on the board of this special club,” said Ryazantsev.
“I would like to take this opportunity to thank the board and Mr Moshiri for their unwavering support.
“I feel proud of what we have been able to achieve on the various projects and wish Everton the success the club truly deserves in the future.”
The Blues confirmed on Monday that Ryazantsev’s departure will be ‘part of a reorganisation of the board’, following two new appointments just last month.
Sarvar Ismailov, the nephew of Alisher Usmanov, and Grant Ingles were promoted to the boardroom following several years working within the club.
Everton chief executive Denise Barrett-Baxendale said: “On behalf of the board of directors I would like to thank Sasha for his work with us over the last five years.
“During his time with us Sasha has always acted with integrity, professionalism and commitment.
“His professional experience proved to be instrumental in arranging various finance and commercial initiatives for the club, while his work on the new stadium has created a good base for us to move forward with as we embark on this exciting project.
“We all wish him every success as he moves on to his next project.”