Bristol Rovers chairman Geoff Dunford is to step down in March 2007.
Dunford says he will leave his position in 2007
But Dunford, who has been a director of the club for more than 21 years, will remain on the board of directors.
"I have been asking the Board to find a successor for nearly two years and it is important to plan for these changes in a structured way," he said.
He added: "I'll inject a considerable amount of money into the club under the new rights issue and I am sure it will not be for the last time."
Vice-chairman Ron Craig said Dunford's contribution to the club could not be underestimated.
"We don't want Geoff to step down, but we appreciate his decision," he said.
"He has given us plenty of notice to find a successor. Geoff's contribution to Bristol Rovers has been immense, from helping the club from near-insolvency to a home of our own back in Bristol.
"He has been strong and focused and has always put the Club first, sometimes to his own detriment."