Natalie Seaton has stepped aside as the chief executive officer of the Vitality Netball Superleague franchise London Pulse.
Seaton, who founded the franchise and led them to successfully gaining a place in Superleague, has sold her majority shareholding to an existing investor, Blue Sky Holdings.
In a statement announcing the change in leadership, London Pulse thanked Seaton for her dedication and work and stated that the board and investors have appointed Sam Bird, the club's current director of netball, as the interim CEO.
It was also added that despite these being difficult times, the change is not a consequence of the current circumstances and that the club's prospects remain "strong and exciting".
Alongside the announcement of this news, Seaton released an open letter to the London Pulse family in order to share her thoughts and feelings.
"I am writing to let you know that I have made the decision to sell my majority share in London Pulse to the other shareholder, Blue Sky Holdings to support the immediate and long-term commercial and economic growth of the company," she stated.
"I have stepped down from my position as CEO of the club. I will fondly treasure the journey and memories with London Pulse, but it is now time for me to embark on my next chapter.
"Please accept my deepest gratitude for all of you who have shown commitment and loyalty during my tenure with London Pulse, which has been invaluable to London Pulse and myself."
Bird, the now interim CEO, joined London Pulse as director of netball last summer and has quickly stamped her mark on the outfit in terms of the development of a dynamic and exciting playing squad.
"London is a special place for netball to thrive and as the interim-CEO, I am delighted to able to lead this club forwards into its next phase of growth with the backing of supportive investors in the club," she said.
"I will be working hard during this postponement of the Vitality Netball Superleague to maintain the existing objectives and strategy to ensure we are well placed to continue our growth."