Juan Soler has tabled his resignation to the Valencia board.
The former club president made the announcement after a board meeting last night, declaring: "My decision is irrevocable, and the reason is my health status.
"I cannot devote the time that Valencia and its project requires."
Soler insists he isn't interested in selling his majority stake, but will no longer be the public face of Valencia after a trying season in charge.
He admitted: "The hardest thing was having to make decisions on cases such as that of Mista, who I maintain a good friendship with, or coaches like Antonio Lopez and Quique Sanchez Flores.
"In addition, I have great memories of men like Amedeo Carboni, whose professional life has always been geared towards Valencia.
"But I have always believed that decisions are not made with your heart, otherwise they would never be made."