Coventry have confirmed that Ray Ranson has stepped down as chairman of the Championship club, to be replaced by director Ken Dulieu. Ranson has been executive chairman since SISU took control in December 2007, saving the club from administration, and will now assist Dulieu on football matters in his new role of Football Consultant.
The Sky Blues are currently under a Football League transfer embargo due to the worrying state of their finances, have recently sacked manager Aidy Boothroyd and endured a dramatic slide from fifth to 20th in the Championship as a result of one win in 18 matches.
Dulieu, who is a former chairman of Southampton, said: "I am delighted to be invited to become chairman of Coventry City, a club which has a proud pedigree in football with an excellent stadium and loyal fan base.
"We are delighted Ray has elected to focus all his energies and considerable football experience as football consultant to help ensure we retain our Championship status.
"Ray and I have an excellent personal relationship and we very much complement each other in our respective working roles within the club and I look forward to working with him in the future.
"On behalf of the board, I would like to thank him for all his efforts and hard work as the club's chairman over the past three years and more.
"We now move into a new chapter for the club, with the first priority being results on the field in line with our objective off the field to achieve financial stability and create a platform upon which to build for the future.
Ranson added: "As most people within the club and in the football world generally have been aware, my role as executive chairman of Coventry City over the past three years has been essentially focused on the football side of the business.
"Coventry City is now entering a new phase where the commercial side of the company will need dedicated focus under a new chairman.
"As my former role as executive chairman has now been split to pave the way for a new future for the club, I am more than happy to assist the new chairman and board as well as the football management team to get our results back on track."