Mike Garlick has been appointed Burnley chairman after John Banaszkiewicz stood down from his role as co-chairman.
Both men have been joint-chairmen for the last three years, but Banaszkiewicz has decided to step back from his prominent role at Turf Moor.
Banaszkiewicz said he had taken the decision in order to spend more time with his family and concentrate on his other business interests.
Banaszkiewicz, who will continue in his role as a director, is predicting a bright future for the club despite their relegation from the Barclays Premier League.
He said: "It might seem an odd thing to say on the back of relegation, but the reality is that the club is on a sound footing for a strong future and I am proud of the work the board has done to get it there.
"I am confident that if we continue to manage the club as wisely as we have done, we can hopefully bounce back into the Premier League and this time stay there.
"I will continue to bring my love for the club and my enthusiasm for doing things a bit differently into the boardroom and into the stands."
Garlick, who joined the Burnley board in 2010, said: "John and I now own over 75 per cent of the club combined and going forward will continue to work together to move the club forward in a positive and progressive way,"
"During the past three years we have achieved a great deal working together and we truly believe that the club is in a very strong position to continue improving in all aspects both on and off the field."
Source: PA
