Geneva, Switzerland: Karl-Heinz Rummenigge, who has been chairman of the European Club Association since it was created nearly a decade ago, will not stand for reelection next month, the ECA said Thursday.
Rummenigge, who is also chairman of Bayern Munich, informed his colleagues on the ECA board of his decision to step down during a meeting in Madrid on Thursday, the association said in a statement.
"Following intense, successful, and good years I believe the time has come to pass on the responsibility," Rummenigge said in the statement.
"I have always believed this office should only be held for a limited amount of time. My withdrawal from office expresses my sincerity concerning this issue."
Rummenigge was appointed the first chairman of the ECA when it was founded in January 2008.
The association initially counted 137 clubs as members -- a number that has since swelled to 220.
Rummenigge's successor will be appointed at the next ECA board elections, which will take place on September 5 in Geneva, the organisation said.