Geoffrey Richmond has left his role as "board advisor" to Leeds due to "health and personal reasons".
Richmond calls time at Leeds
The former Bradford chairman played an integral role in aiding the consortium who took charge over the west Yorkshire club in a £22m deal in April.
"He played an important role during the sale and the board thank him for his support," said a Leeds statement.
Richmond's departure paves the way for his son David to become the powerful background figure in the Leeds set-up.
"Board director and Geoffrey's son David will take over responsibilities and duties with regards to all contract and transfer enquiries involving Leeds players," the statement added.
"Geoffrey, for personal and health reasons, has reluctantly decided to concentrate his time and energy on his personal life.
"The board of Leeds United has accepted his decision and wish him all the very best for the future."
Many Leeds fans expressed concerns about Geoffrey Richmond during his tenure, mainly because of his record as chairman of Bradford when they won promotion to the Premiership.
He earned a £2.3m dividend from the club after they avoided relegation in their first season but left Bradford 18 months later, shortly before they went into administration.
"There was a tone of resentment among fans about him coming after what had happened at Bradford, a fear of lightning striking twice," said Ray Fell, chairman of the Leeds United supporters club.
"A large number of fans were unhappy, the chairman tried to allay that by saying he is putting nothing into the club and taking nothing out, so all we can do now is thank him for his services and wish him all the best with his private life."