Uli Hoeness is to step down as Bayern Munich president but will stay on the club's board, the Bundesliga champions have confirmed.
Weeks of speculation have surrounded the future of the 67-year-old and it was confirmed on Thursday that he will not stand for re-election in November.
Former Adidas chief executive Herbert Hainer has been nominated by Hoeness to take over and this decision has been unanimously backed by Bayern's advisory board.
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Hoeness will remain in the post until the club's next annual general meeting, which is set for November 15.
Bayern confirmed in a statement that Hoeness "will continue as a member of the Supervisory Board for the duration of his appointment through November 2023".
Hoeness, who was a forward in his playing days, scored 86 goals in 239 Bundesliga appearances for Bayern between 1970 and 1979.
He won a trio of Bundesliga titles and three European Cups with the Bavarian giants before being appointed general manager after he was forced to retire from playing at the age of 27 due to injury in 1979.
After 30 years as general manager Hoeness was then elected Bayern president in November 2009.
During that time he helped the club establish itself as a major force in European football, winning 44 major honours.
He oversaw a particular spell of sustained domestic dominance while President, with Bayern winning eight out of 10 Bundesliga titles during his time in charge. They also won the 2013 Champions League, beating rivals Borussia Dortmund 2-1 in the final at Wembley.
He was also instrumental in the club’s move from the Olympiastadion to the Allianz Arena in 2005.
In 2014, he served a jail term for tax evasion, but he was re-elected as Bayern's president after his release from prison three years ago.
Bayern opened the 2019-20 campaign with a 2-0 German Super Cup defeat to Borussia Dortmund before beating fourth-tier side Cottbus in the German Cup.
They began the defence of their Bundesliga title with a 2-2 draw at home to Hertha Berlin before winning 3-0 at Schalke last weekend.
Next up for Niko Kovac’s side is a home clash with Mainz on Saturday.