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Mike Martin, who recently acquired a shareholding of over 30 per cent in the Tannadice club and purchased the GA Arena, has been installed as the new chairman of United.
Thompson announced in January his intention to step down from his current roles at the club at the end of the season
He has been chairman of the club for nearly a decade, since taking the reins in 2008 after the death of his father and predecessor Eddie Thompson.
He has signalled his desire to shift the bulk of his current shareholding with a view to pursuing his own “global business and sports ambitions,” the club said in a statement.
Martin, who has been involved in the international financial sector for more than 35 years, has held various top jobs at HSBC and is currently an Independent Non-Executive Director and Chairman of the Risk Committee with Euroclear Bank.
He said in a statement: “I know that Dundee United has excellent potential and when the opportunity arose to purchase a significant shareholding in the club I saw it as a real chance to contribute more effectively to the challenge of turning round the club’s fortunes.
“Being elected chairman puts me in a position to further influence the change of direction required to revive the fortunes of the club, working alongside my experienced and committed colleagues in the boardroom.”
He paid tribute to the club’s fans, hailing them as “arguably the most loyal and passionate support base in the country.”
Martin continued: “We have all experienced pain in the recent times but I ask all fans to judge me, as chairman, on my actions and get behind the club as we look to ensure a bright long-term future.”
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