Valencia CF have confirmed that Juan Bautista Soler will take over the role of president in place of Jaime Ortí.
Construction magnate Soler, 48, has been chosen to lead the club in which he has a controlling interest, and steps up from his position as vice-chairman at the Mestalla. The new man said he was ready "to take on the challenge of making Valencia a great club and a great organisation".
Soler's predecessor Ortí stood down after a three-year tenure in which Valencia won two Spanish titles, the UEFA Cup and the UEFA Super Cup. "I feel lucky to have been able to enjoy presiding over my club and completing the task at hand," Ortí said. "I feel proud of everything I have achieved. I am leaving, not because of a lack of support from my colleagues, but for personal reasons."