Southampton have confirmed that Ralph Krueger has left his role as club chairman.
The club said the decision not to extend Krueger's contract, which expires on June 30, was reached by all parties following talks with shareholders Gao Jisheng and Katharina Liebherr.
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Krueger, a former ice hockey coach and player, joined Southampton as a director in February 2014, before being appointed chairman the following month.
A Saints statement said that more details on a replacement and the leadership structure at the club would be released at the end of the season.
"The shareholders and everyone involved with the club would like to put on record their thanks for Ralph's leadership, dedication and hard work over his six years with Southampton," the statement said.
"At the end of the season the club will release more information about the future leadership structure. However, for now, all our efforts and focus are on a strong finish to the season and remaining within the Premier League."
Krueger said he would "treasure" his time at the club, which saw three top-eight finishes in the Premier League and an EFL Cup final appearance.
However, Southampton finished 17th last season and have been involved in a relegation battle this term, which led to Ralph Hasenhuttl replacing Mark Hughes in December.
"Everything has a beginning and everything has an end. It is the journey in-between that I will treasure. Thank you Southampton Football Club for the journey," Krueger said.
Both Gao and Liebherr praised Krueger for laying the "foundations" at St Mary's.
"Ralph represented our club with honour and integrity, and followed The Southampton Way with great passion," Gao said. "We thank him for the foundations he has helped to build and wish him well for the future."
Liebherr added: "Ralph laid the foundations for the Saints to be a sustainable team that put pressure on the top sides in the Premier League.
"He was a true leader who fully embodied The Southampton Way, a culture which will live on strongly beyond his time as Chairman. I, along with my family, will always be grateful for all that Ralph has done for the club."