Macclesfield Town can confirm that Amar Alkadhi has stepped down as the Club's Acting Chairman with immediate effect.
A new Chairman is expected to be named shortly, with Mark Blower overseeing the management of this transitional period.
Going forward, all financial and operational decisions will now be made at a local level by the new Chairman - together with the Senior Management Team of Bob Trafford, Caroline Hall, Julie Briggs and Patrick Birch.
It is intended that through prudent and diligent financial management, the Club will no longer be reliant on the receipt of overseas funds and as a result, the logistical difficulties often faced previously will no longer be an issue.
To support the Chairman and guide the SMT, Macclesfield Town continue to actively seek a Chief Executive at the Moss Rose.
This is a key role and it is important that the chosen candidate has the right profile. Therefore, this is not a process that will be rushed - but we promise to keep you informed as matters progress.
Mr Alkadhi will remain as majority shareholder until the sale of his stake in the Club is finalised and he remains committed to concluding this at the earliest possible opportunity.
As a Club, we recognise how important it is to rebuild bridges and regain the trust of both our stakeholders and fans.
This will enable us all to unite as a truly community-based Club in the future.
Further updates will be provided in due course.