AC Milan get a new CEO: Ivan Gazidis will leave the club next month.

Ivan Gazidis and AC Milan will part ways after four years. The South African joined the Rossoneri from Arsenal in December 2018 and "has guided the club through a period of growth and modernization on and off the pitch," according to the Lombards' press release.

Gazidis' contract, which expires on December 5, 2022, will not be renewed, the club have confirmed.

"After four wonderful and challenging years, I will be leaving Milan. I owe so much to this club, its people, its fans and this city that literally saved my life," Gazidis said in farewell.

And further: "If the club is better today than when I came here, it is solely due to the work of those who have surrounded me. Starting with the owners, the CEO, the head coaches, their coaching staff , the sporting directors, the players and every young girl and boy with dreams in our academies, the scouts, the analysts, the medical and support staff, the management and all the extraordinary people who live and give everything for this club."

Since his arrival at Milan, Gazidis had above all made sure to reduce the Rossoneri's immense (salary) costs and put the club on a financially sounder footing. He has fully achieved this goal.

However, he caused resentment when, in 2020, he secretly negotiated with Ralf Rangnick behind the backs of those responsible for sport, Paolo Maldini, Frederic Massara and Zvonimir Boban, and wanted to guide him to Milan as a new strong man. Because the Rossoneri landed a crazy series of successes under Stefano Pioli, the deal with Rangnick fell through - Gazidis was not in a good light. At the time, Boban had criticized his superiors so much that he even left Milan. The South African had also messed with Zlatan Ibrahimovic, whose signing Gazidis originally wanted to block.

It will soon be announced who will lead Milan as CEO in the future.

This article was originally published on 90min.com as AC Milan announce departure of CEO Ivan Gazidis.