Former Bayern Munich captain Oliver Kahn is set to return to the club as a board member next year and will take over as chief executive in 2022, the Bundesliga club said on Friday.
Kahn, who won eight league titles with Bayern between 1994 and 2008, signed a five-year contract after the board voted unanimously in favour of the move in a meeting on Thursday.
"It is a great honour to initially become a member of the board and then take over the chairman role at Bayern Munich," Kahn, a former Germany captain, said in a statement.
"I have a deep connection with the club and it has shaped my life considerably."
When Karl-Heinz Rummenigge's contract expires on Dec. 31 2021, Kahn will take over from him as chairman and CEO.
Bayern president Uli Hoeness also announced his retirement from the club on Friday, declaring that he will not be running for another term at the club's annual general meeting on Nov. 15.
The 1974 World Cup winner, who became the club's general manager in 1979 and then its president in 2009, has proposed former Adidas chief Herbert Hainer as a potential successor at the helm of the club.
Hoeness' reputation was tarnished when he was convicted and imprisoned for tax evasion a few years ago.
"We are convinced that we have found in Oliver Kahn the perfect solution, with a view to the future, for the position of chairman of Bayern Munich," Hoeness said.
Khan, who won the Champions League with Bayern in 2001 and finished as a runner-up to Brazil in the World Cup a year later, had long been seen as a likely replacement for Rummenigge.
Rummenigge joined Bayern as a player in 1974, enjoying a hugely successful decade, and was the club's vice-president from 1991 to 2002 before taking on his existing role.