Christian Purslow has stepped down as managing director of Liverpool, but he will continue to advise new owners New England Sports Ventures (NESV) as a non-executive director.
Purslow, in conjunction with chairman Martin Broughton, was instrumental in defending the board's decision to agree the sale of the to NESV and fighting legal challenges to the takeover from former owners Tom Hicks and George Gillett.
A club statement read: "Liverpool FC confirms that following the successful sale of the club, Christian Purslow has decided to stand down from his temporary position as managing director. Christian will remain as a non-executive director and will act as a special adviser to the new owners."
NESV chairman Tom Werner said: "We are delighted Christian has accepted our offer to help us and the club, given his great experience and love for Liverpool FC. We will now begin a global search process for a chief executive officer."
Purslow was appointed in June 2009 following the departure of former chief executive Rick Parry, but became unpopular amongst some sections of the club's support for his perceived role in the departure of manager Rafa Benitez at the end of last season.
Indeed, the Spaniard criticised Purslow in a press conference on Tuesday when he attributed the club's decline during the 2009-10 season to the managing director and the American owners.
However, Purslow's prominent opposition to Hicks and Gillett and his dedication in ensuring the takeover went through ensured his reputation was rehabilitated in the eyes of many fans.
Purslow said: "I came to LFC to lead the club through a sale process to get the best overall deal including, vitally, the removal of the debt. I am immensely proud of what we have all achieved. I now look forward to assisting the owners in any way I can at this exciting time as they drive the club forward to a bright future."
It is expected Broughton will step down from his position as chairman in the near future once NESV have been brought up to speed with details of their new acquisition.