Peter Kenyon will start work at Chelsea once the terms of his departure from Manchester United are finalised.
Kenyon, who has agreed to become the new chief executive of the Blues' parent company Chelsea Village, is on 'garden leave' after announcing his resignation from Old Trafford. A statement on chelseafc.com, which gave no clue to the future of current chief executive Trevor Birch, read: "Chelsea Village confirm it has agreed to employ Peter Kenyon as chief executive officer. "Mr Kenyon's employment is set to commence as permitted by contractual arrangements with his current employer." Kenyon's departure - and his replacement as chief executive by managing director David Gill - was confirmed formally in an announcement to the Stock Exchange on Tuesday morning. United's share price fell by five per cent when the market opened on Tuesday morning. It emerged on Monday afternoon that Kenyon was on his way to join Chelsea as part of Russian billionaire Roman Abramovich's rebuilding of the club. Although United released a statement announcing the changes on Monday night, as a publicly limited company they were obliged to make it official to the City. "The board of Manchester United plc is delighted to announce the appointment of David Gill as its new chief executive with immediate effect, to replace Peter Kenyon who has resigned today," said the statement. "Mr Kenyon will now go on 'garden leave' in accordance with the terms of his contract." Manchester United plc chairman Sir Roy Gardner said he was looking forward to a smooth transition during the change of the top man off the field. "We would like to thank Peter for his significant contribution to the success of Manchester United on and off the pitch in the last six years," he said. "David, as managing director, has also played a major role in that success, and we are delighted that his appointment will bring both experience and continuity to this position." ________________________________________________________________________ Want to chat instantly with your online friends? Get the FREE Yahoo! Messenger http://mail.messenger.yahoo.co.uk ------------------------ Yahoo! Groups Sponsor ---------------------~--> Buy Ink Cartridges or Refill Kits for Your HP, Epson, Canon or Lexmark Printer at Myinks.com. Free s/h on orders $50 or more to the US & Canada. http://www.c1tracking.com/l.asp?cid=5511 http://us.click.yahoo.com/l.m7sD/LIdGAA/qnsNAA/tsUolB/TM ---------------------------------------------------------------------~-> *************************************** Reply to: [EMAIL PROTECTED] Subscribe to the list: [EMAIL PROTECTED] Unsubscribe from the list: [EMAIL PROTECTED] Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
