GEOFF Atherton is stepping down as chairman of the Ospreys and its holding company Llandarcy Park (Ospreys) Ltd, the region have announced.
Roger Blyth, currently managing director of both companies, will replace Atherton as chairman, while Andrew Hore, the region's chief operations officer, will become chief executive of the two companies.
An Ospreys statement said: "Ospreys Rugby would like to thank Geoff for his tireless efforts on behalf of the region and in particular the role he has played in helping to steer the business through a difficult last 24 months.
"Having overseen a structural reorganisation of the two businesses, he is stepping down from an organisation that is financially sustainable allowing the region to move forward with a high degree of confidence.
"In this new capacity Andrew will have total responsibility for all operations within the Ospreys, including rugby, finance, commercial, sales and marketing, and all the other functions which make up the complete business.
"Given the environment in which the Ospreys, and Welsh regional rugby, operate, this will be a challenging task for Andrew but one which the directors believe he is more than capable of fulfilling."
Atherton is to remain a director of the Ospreys.
