Karl-Heinz Rummenigge has terminated his contract as Bayern Munich CEO early to pave the way for legendary goalkeeper Oliver Kahn to take his place.
Rummenigge was set to step down at the end of the year with Kahn in line to replace him, but the decision has been made to accelerate the move.
Rummenigge has been Bayern's chairman of the board since 2002.
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"It's a great honour for me to be first entrusted with the office of board member and later with the office of CEO and chairman of the Executive Board," Kahn said in Bayern's official press release.
"I would like to thank the supervisory Board, headed by Uli Hoeneß, for this trust.
"I am deeply connected with the club and it has decisively shaped my life.
"Sporting and financial success, solidarity with the fans, a responsible approach towards the club's history and values - that is what FC Bayern stands for.
"I would like to further develop these attributes in the future together with the staff, as well as my colleagues on the Executive Board and the Supervisory Board."
Kahn is a Bayern Munich legend and made 781 appearances for the club, winning the ​Bundesliga eight times, six DFB Cups, as well as the 2000/01 UEFA Champions League and 1995/96 UEFA Cup.
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