American businesswoman Michele Kang has taken over as president of seven-time French champions Lyon after John Textor resigned following the club's relegation over financial irregularities.
South Korea-born Kang is also majority owner of the Lyon's women's team -- OL Lyonnes -- and has been on Lyon's board of directors since 2023.
Lyon said in a statement that Kang will play an "active role" in leading the club's appeal against the relegation handed down last Tuesday by the French league's football watchdog, known as DNCG. The case is expected to be heard within the next week.
That ruling could also decide whether Crystal Palace will be allowed to play in next season's Europa League, which Lyon also qualified for.
Textor held a 43% stake in Palace -- which he has agreed to sell to New York Jets owner Woody Johnson -- and UEFA has rules against clubs with the same owner playing the same competition.
Lyon added that Textor has also resigned from the board of directors. He became Lyon president three years ago, taking over from longstanding incumbent Jean-Michel Aulas, who sold to Textor's Eagle Football Holdings after 35 years in charge.
"Congratulations to Michele Kang on her appointment as head of OL [Lyon]. This club deserves the best: ambition, passion, and loyalty," Aulas said on social media. "I will remain, as always, fully committed to OL."
The 66-year-old Kang will be supported in her role by Michael Gerlinger, the general manager of Eagle Football Holdings.
"A highly respected figure in European football administration, Michael brings over two decades of experience in governance, regulatory affairs and sports operations," Lyon said in its statement.
