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Jeff Shi has stepped down as Wolverhampton Wanderers executive chairman after nearly a decade in the role.
The Fosun Sports Group CEO has been replaced in an interim capacity by Nathan Shi, who is also a member of Fosun and is expected to work closely with technical director Matt Jackson.
Shi’s departure on Friday marks the eleventh staff loss for Wolves in two months as they sit bottom of the league with only two points.
In November, head coach Vitor Pereira left the club after a winless start to the season, alongside all eight members of his backroom staff. A week later, director of professional football Domenico Teti agreed to leave the club by mutual consent after around only five months in the role.
Pereira’s departure came only 45 days on from signing a three-year contract at the club and Wolves replaced him with Rob Edwards, but have not gained a point in the league since.
“I took the keys to this chair with humility; today, I step aside with a heart full of gratitude,” Jeff Shi, 48, said in a statement upon leaving. “It has been an honour and a privilege to work alongside our leadership team, players, coaches, staff and – above all – our fans.
“Together, we have transformed the club into a global force, battling at the highest level.
“I would like to thank Fosun and the board for their trust, and every supporter for making Molineux shine. My seat may change, but my heart will still roar for this club every single game.”
Wolves’ points total after 15 games this season, 2, was the joint-lowest at that stage in the history of England’s top four tiers, level with Sheffield United in the Premier League in 2020-21.
They return to action against Brentford on Saturday.