Chris Roberts has resigned as chairman of struggling Torquay, the Football League's bottom club, after just four months in charge.
Roberts had been chairman of Torquay since October
A statement on the club's website said the move had been taken "in the best interests of Torquay United".
Mervyn Benney, one of three directors who resigned last week in protest against Roberts' handling of the club, has taken over as acting chairman.
Roberts had replaced the long-serving Mike Bateson as chairman in October.
Following the takeover of the League Two club by Roberts's consortium, he announced in November that he was in talks to move the club from Plainmoor to a new stadium on the Torquay seafront.
Later that month, he announced a new initiative that Gulls players would face the sack if they repeatedly tried to con referees by diving and feigning injury.
Also in November, he replaced manager Ian Atkins with Lubos Kubik - but the former Czech international defender won only won of his 12 league games in charge, and left the club in February.
Roberts subsequently appointed Colin Lee as director of football and Keith Curle as head coach - but the Gulls are now seven points from safety after losing all three games since Kubik's departure.
Club staff at Plainmoor have also been facing a period of uncertainty.
Chief executive Debbie Hancox told the club's website: "On Monday, we were made redundant, then on Monday evening we were reinstated with the promise of a new owner for Torquay United with immediate effect.
"The newer owner was due to meet with all the staff yesterday (Tuesday) morning and we are still waiting."