After 30 years in charge of Bayern Munich, Karl-Heinz Rummenigge will step down as chairman at the end of the month and be replaced by former Germany captain Oliver Kahn, the Bundesliga giants confirmed Tuesday.
Rummenigge had been due to see out his contract which expires at the end of 2021, but is leaving six months early to meet the end of the financial year on June 30.
Rummenigge’s departure represents the start of a new era at Bayern with Julian Nagelsmann, 33, also replacing Hansi Flick as head coach going into next season.
“It is strategically the most sensible and logical point in time,” said Rummenigge, 65, with Kahn, 51, to be Bayern’s chairman when the new season starts in August.