LONDON (AFP) - Arsenal's managing director Keith Edelman is to stand down after eight years at the helm, the club announced to the London Stock Exchange early Thursday.

He has resigned as a director of Arsenal Holdings PLC but "will be retained by the club for a 12-month period to ensure that a smooth transition takes place."

Edelman, who notably oversaw Arsenal's move to the Emirates Stadium from Highbury, said that he had decided to move on to seek other challenges.

"I have thoroughly enjoyed my time at Arsenal," he said.

"It has been a very exciting period for the business and I am proud to have contributed to the club's many off-field achievements over the past eight years, not least the Emirates Stadium project.

"Now that we have completed our second season at Emirates, I believe it is the right time to seek pastures new and embark upon fresh challenges."

Arsenal have already started the search for a successor, with director Ken Friar - who held the role for 18 years until 2000 - assuming the role of acting managing director.