Wolverhampton Wanderers' outgoing chief executive Jez Moxey will leave the club today after 16 years in the role.
The 53-year-old previously announced that he would be departing Molineux following the club's takeover by Chinese conglomerate Fosun International, although he was expected to remain in the role for several months to aid with the transition of ownership.
Moxey was since confirmed as the new chief executive at Norwich City, however, and Wolves have now allowed him to leave the club early in order to take up the new role at their Championship rivals.
In a statement, Wolves confirmed that it has split the role of chief executive into two new roles - sporting director and managing director.
Kevin Thelwall, previously head of recruitment, will take on the new sporting director role, giving him responsibility for all footballing matters, including "recruitment, operations, and coach education".
Head of commercial Laurie Dalrymple has been promoted to the post of MD, putting him in charge of all off-the-pitch matters, including commercial, ticketing and Molineux operations.
As expected, former Monaco assistant technical director Andrea Butti has been appointed in the new role of team general manager, working under head coach Walter Zenga with a responsibility for coordinating activities of the first team and backroom staff. Stefano Cusin has also been named as Zenga's assistant.
Jeff Shi, Fosun's representative on the Wolves board, said: "I'm delighted with the new structure and I'd like to congratulate all the staff - both existing and new colleagues - who've been appointed to these key roles.
"The new structure will ensure complete focus on securing positive first team results. It will also ensure proper attention is paid to developing the club off the pitch so we are ready to realise all our ambitions for Wolves.
"We've implemented this structure much more quickly and smoothly than we could have wished for and on that basis we have agreed to release Jez to begin his new adventure at Norwich. Once again, we thank him for his 16 years of outstanding service - and his professionalism and diligence during the takeover and transition - and we wish Jez and his family all the very best as they begin a new chapter in their lives."
Moxey said that he was leaving Molineux for the last time "with a heavy heart".
"There have been some great highs and some difficult lows, but I have loved every single moment of it," he told the club's official website. "I have done my bit here, that is how I feel, I have played my part as part-custodian of a fantastic institution. And I have given it every sinew of effort and everything I ever had.
"I have been thrilled to have run this club for such a long time, recruited 16 years ago by a great owner who is just the most fantastic man I have ever met. Sir Jack [Hayward] became such a great friend – I am wearing his President's tie today which is very poignant for my last day – and that image of him with his thumbs-up at the playoff final is something that will stay with me for the rest of my life.
"So now I am very emotional - it has been a difficult decision because I love the area, I love the people and the club, and it has played such an important part in my life. But I am a professional guy, and it is time for me to move on to something else, and I am very pleased about where I am going."
Wolves begin their new Championship season tomorrow with a trip to Rotherham United, while Moxey's new side Norwich travel to Blackburn Rovers.
