Legendary goalkeeper Oliver Kahn will succeed Karl-Heinz Rummenigge as Bayern Munich CEO, the club have confirmed.
Rummenigge has been Bayern's chairman of the board since 2002, but announced earlier in 2019 that he will leave when his contract expires on 31 December 2021.
Kahn, 50, has now signed a five-year deal, and will officially join Bayern's supervisory board on 1 January 2020, before taking over from Rummenigge 12 months later.
"It's a great honour for me to be first entrusted with the office of board member and later with the office of CEO and chairman of the Executive Board," Kahn said in Bayern's official press release.
"I would like to thank the supervisory Board, headed by Uli Hoeneß, for this trust.
"I am deeply connected with the club and it has decisively shaped my life.
"Sporting and financial success, solidarity with the fans, a responsible approach towards the club's history and values - that is what FC Bayern stands for.
"I would like to further develop these attributes in the future together with the staff, as well as my colleagues on the Executive Board and the Supervisory Board."
Kahn enjoyed a glittering playing career with Bayern, after joining the Bavarian giants from Karlsruher in July 1994.
He made 781 appearances for the club, winning the Bundesliga eight times, six DFB Cups, as well as the 2000/01 UEFA Champions League and 1995/96 UEFA Cup.
A UEFA Euro 1996 winner and 86-time international, he also helped guide Germany reach the 2002 FIFA World Cup final, where he became the first goalkeeper to win the Golden Ball as the tournament's best player.
Widely considered to be one of the greatest goalkeepers of all time, Kahn finished third in the voting for the Ballon d'Or in 2001 and 2002.
"With an eye on the future, we are convinced that Oliver Kahn is the perfect solution for the position of CEO of FC Bayern München AG. Oliver was an important player in the history of our club," said Hoeneß, who on Thursday announced he will not stand for re-election as Bayern president.
"He was captain of FC Bayern and the Germany national team for many years, he has won almost every title there is to win, and he has always led the way with dedication and determination.
"After his playing career, he earned an MBA in General Management and built up his own companies in parallel.
"Oliver Kahn knows football, he knows business, and he carries the DNA of FC Bayern.
"We are convinced that Oliver Kahn is the right man to lead FC Bayern into the future."