Ed Woodward will leave his role as Manchester United executive vice-chairman on February 1, with Richard Arnold to succeed him as chief executive.
Woodward tendered his resignation in April following support for the ill-fated Super League and the expectation had been Arnold would succeed him.
Arnold said: “I am honoured to have the chance to serve this great club and its fans. I am determined to return that honour in any way I can.”
The United co-chairman Joel Glazer added: “I would like to thank Ed for his tireless work on behalf of Manchester United during his nine years as executive vice-chairman and 16 years with the club.
"We are now looking forward to Richard and his leadership team opening a new phase in the club’s evolution, with ambitious plans for investment in Old Trafford, the strengthening of our engagement with fans, and continued drive towards our most important objective – winning on the pitch.”
Woodward will not undertake any consultancy period but club sources say he will attend football board meetings until the end of June to help oversee a smooth transition. Woodward will not stay on as a consultant beyond then.
Arnold has been an ever-present at United games and dialled into the virtual fan forums over the last year. He will co-chair the fans' advisory board, established in the fallout from the Super League to improve communication between the club and supporters.
Arnold will become the first person to hold the chief executive title at United since David Gill stepped down in 2013. Woodward is the executive vice-chairman.
The United investor relations website states Arnold was previously the deputy managing director of InterVoice Ltd, a NASDAQ listed technology company, between 2002 and 2007.
The United co-chairman, Avram Glazer, was accompanied by Arnold on a trip to Saudi Arabia to attend the Misk Global Forum in November 2018.
Arnold, currently the United managing director, joined the club as commercial director in 2007 and has been vocal on investors' calls.
The 50-year-old has been present at sponsorship unveilings since Aon became United's shirt sponsor in 2010 and Arnold travelled on the pre-season tour of Australia and Asia in 2013.
Arnold was derided by some United supporters in March for saying the trophyless manager Ole Gunnar Solskjaer had brought 'phenomenal success'.
Woodward and Arnold met at the University of Bristol in the early 90s.
