Layhoon Chan has announced her resignation as Valencia president.

Chan will be succeeded by Anil Murthy, currently an executive director who has been with the club for six months.

Chan will step down at the end of the season and confirmed the decision yesterday.

The departing president said: "Today I am here to explain to you another important change in the club.

"On behalf of the Council I inform you that I have submitted my resignation as President and Councilor of Valencia with effect from the end of the season and Anil Murthy will be the new President from June 1st.

"This change in the presidency is part of the continuity planned in the Club. It has been planned for months."

On Murty, Chan added: "Anil has been here for six months, you know him, he speaks Spanish well, you'll communicate better with him and the team, too. He lives in Valencia with his family and goes to work for the Club full time."