Former banker takes on top role at Manchester United

LONDON (Reuters) – Former investment banker Ed Woodward will take on the top executive role at Manchester United from July, working with manager Alex Ferguson to hire new players for the 19-time English soccer champions.

Woodward, who joined the club in 2005 after its takeover by the American Glazer family in a controversial 790 million pounds (US$1.2 billion) deal, replaces long-serving chief executive David Gill who is stepping down after a decade in the role, the club said on Wednesday.

Woodward will retain the title of executive vice chairman but take on the duties vacated by Gill, 55.

A 40-year-old Briton, Woodward worked with the Glazers on their takeover of the club when he was a banker with JP Morgan and then joined United where he helped to organise the club’s successful commercial expansion.

He played a prominent role in United’s $2.3 billion flotation on the New York Stock Exchange last August and has recently been hosting conference calls with investors when the club publishes its financial results every three months.