Italian club AC Milan have appointed Arsenal chief executive Ivan Gazidis as their new chief executive officer.
Reflecting on his appointment, the 53-year-old said that it was a matter of privilege for him to serve the club for a long time. He further stated that his exit from Arsenal might seem strange but it is the right time for him to leave.
"For the last 10 years, I have been privileged to dedicate myself to this great club. Arsenal is entering a new chapter and I have done everything I can to ensure that it is strongly placed to take on that challenge," CNN.com quoted Gazidis, as saying.
"I know many will think this is a strange time to be leaving but I believe it is the right time for me and for the club. Change and succession is not only inevitable for a club like Arsenal -- it is necessary. I am now looking forward to joining one of the world's other great clubs, and working to restore it to its rightful place in football," he added.
Gazidis, who was with Arsenal for 10 long years, will assume the new position from December 1.
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