Rob Davies has stood down from his role as chairman of the Ospreys.
Davies has been at the region since their inception in 2003 and took over from Mike James as chairman in 2019, during the failed merger between the Ospreys and the Scarlets.
That merger seemed like it was about to take place, with a heads of agreement being signed by both regions before Davies arrived on the scene.
Amid some straight-talking from Davies, it emerged that the move was viewed as more of a Scarlets takeover than a merger and the Ospreys walked away.
Since then, Davies also played a key role in the negotiations with new owners Y11 Sports and Media, whose investment secured the future of the region.
Davies will remain an investor in Y11 Sports and Media but relinquishes his role as the Ospreys' representative on the Professional Rugby Board, which handles the running of the professional game in Wales.
He will be replaced on that board by Ospreys CEO Nick Garcia.
Davies said: “With the region’s new management and ownership structure now in place and the transition fully completed, it’s the right time to take a step back and allow for a further strengthening of the organisation’s leadership and governance, ahead of further growth.
“I’m so proud of what everyone has achieved and I know the Ospreys are now fully prepared for the next and more exciting chapters to come.
“There is no doubt professional rugby is on the cusp of a new global era and has to adapt to take full advantage to deliver in a competitive sporting marketplace.
“That means harnessing expertise from outside of rugby, from the business and sporting worlds, to provide real acumen and to lay foundations for an exciting and sustainable future.
“At the Ospreys, with the investment with Y11, we have done that, acknowledging the need to embrace change to harness the benefits and opportunities ahead.
“Professional rugby in Wales faces major challenges but we first need to acknowledge the need to change and then to embrace change to progress."
Chief Executive Garcia added: “Rob has always pushed for the Ospreys, on the rugby and business side, to be bold, innovative and to embrace new opportunities.
“Still having him as part of the Ospreys Board will prove invaluable as we press ahead as professional rugby embarks on its new global era.”
The region have not given any indication as to who Davies' successor might be.
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