Zhang Kangyang -- more commonly known as Steven Zhang -- has been named as Inter Milan's new president, replacing Erick Thohir.

Zhang, the son of Zhang Jindong -- the owner of the Suning Holdings Group, Inter's majority stakeholders -- has been overseeing the day-to-day running of the club ever since the Chinese group bought out the majority of Thohir's shares and the remainder of former owner Massimo Moratti's stake in the Nerazzurri in June 2016.

Indonesian businessman Thohir -- who maintains a minority stake in the Serie A club -- stayed on as the club's president for the past two years, but he has been less involved in the operative running and has now been replaced by the 26-year-old Zhang.

Javier Zanetti will continue in his role of vice-president with Alessandro Antonello the club's general manager.

The club, its people and the city have been waiting for you.

Welcome, President Zhang.#StevenIsHere #FCIM pic.twitter.com/Cz7WqGl1Zy — Inter (@Inter_en) October 26, 2018

Inter announced the changes at a shareholders' meeting in Milan on Friday.

Since changing hands from Thohir to Zhang in 2016, the Nerazzurri have succeeded in returning to the Champions League, edging out Lazio on the final day of last season in the race for fourth place.

Despite being in the bottom pot of seeds on their return to European football's top club competition after a seven-year absence, they are in a promising position in Group B with wins over Tottenham Hotspur and PSV Eindhoven followed by a defeat to Barcelona this week, leaving them in second place at the midway stage -- five points ahead of Spurs and PSV.

In Serie A, Luciano Spalletti's men lie third after a 1-0 win over city rivals AC Milan in the derby last weekend. They trail league leaders Juventus by six points and are two adrift of second-placed Napoli.

They last won Serie A in 2010, when they clinched an unprecedented Serie A, Coppa Italia and Champions League treble under Jose Mourinho.

Zhang becomes Inter's 21st president.