Wolves chairman steps down after eight years amid fan unrest

Jeff Shi has stepped down as executive chairman of Wolves.

Shi’s departure after eight years as chairman comes amid unrest from Wolves fans.

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The Premier League basement boys are looking for a replacement.

In the meantime, Nathan Shi has been named as interim executive chairman.

Wolves statement

Wolves confirmed the news in a statement, which read: “Jeff Shi has stepped down from his role as executive chairman of Wolves.

“He will remain chairman and CEO of Fosun Sports Group but will have no operational duties relating to Wolves.

“The board extends its sincere thanks to Jeff Shi for his leadership and service over the past decade, during which Wolves made significant progress, both on and off the pitch.

“In parallel, the board has accelerated the process of identifying and appointing a permanent executive chairman for Wolves.”

Meanwhile, Shi said: “I took the keys to this chair with humility; today, I step aside with a heart full of gratitude.

“It has been an honour and a privilege to work alongside our leadership team, players, coaches, staff and, above all, our fans.

“Together, we have transformed the club into a global force, battling at the highest level.

“I would like to thank Fosun and the board for their trust, and every supporter for making Molineux shine.

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“My seat may change, but my heart will still roar for this club every single game.

“I give my full support to the new management team and wish them every success in driving Wolves to even greater heights.”

During Shi’s time at Molineux, Wolves secured promotion to the Premier League as champions in 2018.

They have since finished seventh on two occasions as well as reaching the quarter-finals of the Europa League.

However, Wolves have finished in the bottom half in each of the last three seasons.

Their results, paired with several key player sales in the summer, had caused unrest towards Shi from supporters.

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Several fan protests have already taken place this season, including banners reading ‘Shi Out’ during their recent defeat to Manchester United.

Rob Edwards’ side remain winless after 16 league matches so far this season.

Their tally of just two points leaves the club 14 points from safety at the foot of the table.

Wolves go in search of a maiden victory at home to Brentford on Saturday afternoon.