Saracens owner Nigel Wray has retired as club chairman with immediate effect.
Wray first invested in the club in 1995 and reclaimed full control in April 2018 by buying back a 50% stake sold to South African firm, Remgro.
Saracens were deducted 35 points and fined £5.36m in November after an inquiry into business dealings between Wray and some Sarries players.
“As we enter a new year, a new decade, it is time for the club to make a fresh start,” he said in a statement.
He added that the Wray family “will continue to provide the required financial support to the club”.
Edward Griffiths is returning to the club as interim chief executive for the next 12 months.