Richard Arnold will become Manchester United's chief executive on February 1, with executive vice-chairman Ed Woodward stepping down from his role before leaving the club in April.
Arnold, who will succeed Woodward in running the club, has been the driving force behind numerous commercial deals since becoming United's group managing director in 2013.
Woodward will continue to attend football board meetings until the end of the season but he will have no involvement in the day to day running of the club.
Arnold said: "I am honoured to have the chance to serve this great club and its fans. I am determined to return that honour in any way I can."
Joel Glazer, executive co-chairman, said: "I would like to thank Ed for his tireless work on behalf of Manchester United during his nine years as executive vice-chairman and 16 years with the club. We are now looking forward to Richard and his leadership team opening a new phase in the club's evolution, with ambitious plans for investment in Old Trafford, the strengthening of our engagement with fans, and continued drive towards our most important objective – winning on the pitch."
United had announced in April 2021 that Woodward would be leaving at the end of last year but his time at the club is now drawing to a close.
Woodward, who advised the Glazer family on their acquisition of United in 2005, was appointed to the club's board of directors and named executive vice-chairman at Old Trafford in 2012 and took charge of operations following the retirement of chief executive David Gill in 2013.
£1bn in transfers but no Premier League title under Woodward
Manchester United have spent over £1bn in transfer fees during Woodward's time in charge, including the world record fee to bring Paul Pogba back to Old Trafford. While there have been notable players graduate from the club's academy in that period as well, including Marcus Rashford and Mason Greenwood, the club have failed to win a Premier League title during Woodward's tenure. With Sir Alex Ferguson as manager, who like Gill, left in 2013, United had won five of the previous seven.