The Club announced today that Stephen Thompson has resigned as Chairman and Board member with immediate effect and Mike Martin has been elected as the new Chairman of Dundee United Football Club.

Mr Thompson also confirmed his intention to dispose of the bulk of his current shareholding during the next few months as he pursues his own global business and sports ambitions.

Mr Martin, who recently acquired over 30% shareholding in the Club as well as completing last week’s purchase of the GA Arena brings a wealth of corporate financial and commercial experience to the Chairman’s position having served in the international financial sector for over 35 years, including various senior roles at HSBC and, currently, Euroclear Bank, where he is an Independent Non-Executive Director and Chairman of the Risk Committee.

Mr Martin said, “I know that Dundee United has excellent potential and when the opportunity arose to purchase a significant shareholding in the Club I saw it as a real chance to contribute more effectively to the challenge of turning round the club’s fortunes. Being elected Chairman puts me in a position to further influence the change of direction required to revive the fortunes of the club, working alongside my experienced and committed colleagues in the Boardroom.

“It is clear that Dundee United benefits from an excellent staff and arguably the most loyal and passionate support base in the country. We have all experienced pain in the recent times but I ask all fans to judge me, as Chairman, on my actions and get behind the Club as we look to ensure a bright long-term future.”