Ann Budge has announced her decision to step down as chair of Hearts at the end of this year.
She has advised the board that she will be stepping down from the role in December, following the 2025 AGM.
Hearts confirmed the move on Monday and said the search for a replacement is now under way.
Budge has spent more than a decade at Tynecastle after first joining in 2013 when she helped the club exit administration.
Reflecting on her decision to step down, she said: “This is something I have thought long and hard about. Having discussed this with the board, I feel now is the right time to confirm that I intend to step down later this year.
“When I first got involved with the Foundation of Hearts in 2013, I could not have envisaged the journey it would take me on. Initially, the aim was to stabilize the club before even thinking of growth.
“Now, 12 years later, as I look at where the club stands, I can allow myself to feel a sense of pride at what we have achieved.
“With Tony Bloom’s investment now complete, and the supporters ensconced as custodians of the club, I believe I have done what I set out to achieve.
“The appropriate time for reminiscing and saying goodbye will come after the AGM in December but until then, my full focus will remain on what it has always been, and that is doing my very best for Hearts and our fans.”
Chief executive officer Andrew McKinlay said; “It cannot be overstated just how much Ann has done for Heart of Midlothian and on behalf of everyone at the club, I extend both my thanks and my gratitude.
“As we get closer to December’s AGM we will update our supporters on our succession plans, but for now we will continue to enjoy and benefit from working with Ann until the end of her tenure as the club’s chair.”
Foundation of Hearts chairman Gerry Mallon said; “Ann will leave a remarkable legacy when she departs the club and we are extremely fortunate to have had 12 years of her knowledge and experience at the helm of Hearts.
“In particular, her participation during the birth of the Foundation of Hearts can never be downplayed, neither can the instrumental role she played in saving the club from the abyss and taking it back up to the top end of Scottish football.
“For that, I will be forever grateful to Ann, as I’m sure Hearts fans everywhere will be too.”
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