Katharina Liebherr has resigned from the board of Southampton.
The Daily Echo says the Swiss owner will still operate as a director of Saints' parent company, which acts as an umbrella for both the club's football and non-football operations.
But she no longer has a place on the board of the football club itself, leaving major decisions and day-to-day operations to others.
Chairman Ralph Krueger, vice chairman of football Les Reed and vice chairman of business Martin Semmens will lead the club as part of a three man strategic board.
There is also now an operational board that sits below that, responsible for running the club on a daily basis.