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[B] Soccer: Manchester United Chief executive to step down By BridgeNews London--July 17--Martin Edwards is to step down as Manchester United chief executive and will be replaced by Peter Kenyon with effect from August 1, the English Premiership champions announced Monday, The U.K. Press Association reports. * * * United, who became the world's first club to be valued at over one billion sterling earlier this year, have also appointed David Gill, currently group financial director, as new deputy chief executive. Edwards will remain at the club's parent company, Manchester United PLC, as a non-executive director and continue his present role as non-executive chairman of Manchester United Football Club. He will continue to devote much of his time to football matters and representing United at the Premier League and UEFA committee meetings. Edwards took over control of the club in 1980 from his father, Louis, and has helped transform it into one of the biggest clubs in the world. Its current stock market valuation is around 950 million sterling. Kenyon said: "I am delighted. I've been involved with the club for three years, and it's been a nice apprenticeship." He ruled out a revolution at Old Trafford, saying: "There won't be any major changes. "I will continue to look at a number of opportunities for the business, including attacking the communications arena." End

-- Anonymous, July 17, 2000


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