Sisu's representative of the Coventry City board of directors Onye Igwe, has spoken to the club website about the resignation of club chairman Ken Dulieu.
Onye Igwe said the under Dulieu's eight months in charge "significant improvements" have been made. Dulieu will remain at the club as Head of Football Operations and help manager Andy Thorn on the playing side of affairs.
According to Igwe Dulieu's efforts and achievements cannot be overstated. He told the club website: "Ken's efforts over these challenging few months cannot be overstated.
"He has led the Board through a difficult period and through his leadership, the Board has put in place a structure that the Club can build on.
"Through Ken's efforts, there have been significant improvements. We have seen the integration of the Academy and the first team. Player contract extensions with flexible terms have been put in place, and the ultimate value of our squad has risen.
"The club is now more prepared for the implementation of the Football League's financial fair play regulations, through the reduction of losses which Ken has achieved."
Igwe said the club had already begun the process of looking for a new chairman.
He continued: "As we enter the next stage of the turnaround plan and, in particular, as we need to engage fully with our local community and stakeholders, Ken and I both feel it is best for the Club to be led on a day to day basis by an executive who can physically spend more time in the City and take a more hands on approach.
"To that end, I and the rest of the Board agree the time is right to further strengthen our executive team with locally based directors.
"We have now started the process of identifying the right candidates who can help implement the next stage of the turnaround plan which Ken has put in place.
"I would like to take this opportunity, on behalf of the Board, to thank Ken for his work as Chairman.
"Away from his formal duties at board level, Ken can better focus on working closely with the manager, coaches and the Academy team to further develop the Club's on-field potential.
"I am delighted that he is staying with the Club in this capacity and feel the new structure will give us the best opportunity to face the tests of the coming months."