Aston Villa have confirmed that the club's chief executive Paul Faulkner has stepped down from his position.
Club chairman Randy Lerner has made public his desire to sell the Midlands outfit, though a statement released on Monday declared that no agreement has yet been reached.
On Tuesday, a post on Villa's official website announced that Faulkner was to leave, with chief financial officer Robin Russell stepping in as acting chief executive.
"Having discussed his re-engaging with the chairman's broader business while remaining involved with Villa in a non-operational role, agreement could not be reached," the statement read.
"On the strength of many productive years together, and a longstanding friendship, Paul has parted on good terms."
Faulkner added: "I would like to thank Randy Lerner for the opportunity to become involved with Aston Villa and for the relationship we built over years, which pre-dated my time at the club.
"To the Villa fans, I am grateful for their support over the years, and for their passionate love for and loyalty to this great club, which deserves the very best."
Lerner himself said: "Paul has been fantastic in his role at Villa and more broadly as a colleague over the years. I offer him my deepest thanks."