Wolverhampton Wanderers have announced that Jeff Shi has moved from his role as the club's main director to become the new executive chairman at Molineux.

Shi has headed Fosun International's involvement in the Championship outfit since they purchased the club in the summer, and after he made the decision to relocate from China to the West Midlands, he has made the transition in the Wolves' hierarchy.

He told the club's official website: "Since Fosun became owners of the club, I have travelled over from China on several occasions, and it has always been a strong intention that I would relocate when the time was right. It feels like the natural thing to do to now, to move over to Wolverhampton, and to be fully engaged with the club on a day-to-day basis.

"Previously there were a lot of phone calls, e-mails and WhatsApp communication, but now I will be able to enjoy more face-to-face contact with Laurie, Kevin and Nuno, as he settles into his role as Head Coach. I think this will help us to work together even closer, and make our leadership team even stronger.

"It is obviously a proud moment for me to become the Chairman of such a great club as Wolves. Despite the season having its highs and lows, I have enjoyed every minute of the challenge so far, and I believe we are well placed to make sustained and consistent progress over the next 12 months."

Wolves will be hoping to put together a promotion bid next season after only finishing in 15th place during the most recent campaign.