Valencia president Amadeo Salvo parted company with the La Liga club on Wednesday, due to "personal and family reasons".
Salvo said: "Two years ago the club was definitely worse off than now. It was a club in decline and today it is thriving and there is a new-found excitement. Now, Valencia CF are in good hands and the club has a great future ahead with Layhoon [Chan] and [owner] Peter Lim.”
He added: "I ask the fans to continue to always support the team, as I will now do from my seat at Mestalla as a fan - as I did before becoming president." As highlighted by Sport-New