Tottenham vice-chairman Paul Kemsley has resigned from the board with immediate effect.
The announcement was made to the Stock Exchange as Spurs also revealed £28m profits for the last financial year.
Kemsley was said to be closely involved in the club's attempts to bring Seville coach Juande Ramos to White Hart Lane.
He was part of a delegation which travelled to Spain to speak to Ramos but has now left the club to focus on business interests in the USA.
Chairman Daniel Levy said: "It is with regret that I announce the resignation of Paul Kemsley.
"Paul has recently expanded his property business interests in the United States and feels that inevitably his time spent overseas will impact upon his ability to fulfil his role with the club.
"Paul has worked with me for the past six years at the club and I thank him for his advice and counsel during this period."
The club's financial position is healthy, with a record turnover and profit for the last financial year.
Last year's Uefa Cup campaign, when Martin Jol's side reached the quarter-final stage, and successive fifth-placed Premier League finishes, led to the club posting a turnover of £103.1m for the year ending 30 June 2007, up £29m on the 2006 figures.
Operating profit before football trading and depreciation increased from £4.6m to £32m while operating profit before training totalled £29.7m from £2.4m for the previous year.
The club's profit before tax increased massively to £27.7m from £600,000 with retained profit for the year £18.9m.