Peter Lawwell has announced his departure as Celtic chairman, declaring that escalating abuse and threats have become "intolerable" and left his family "dismayed and alarmed."
The 66-year-old will vacate his position at the end of this month, with non-executive director Brian Wilson stepping in as interim chairman from 31 December until a permanent successor is appointed.
"At this stage in my life, I don't need this. I cannot accept this and so I leave the club I have loved all my life," Lawwell stated on the club's website.
The announcement was made to the stock exchange earlier today.
Peter Lawwell stated 'I don't need this' after stepping down from his role
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The resignation arrives amid a turbulent period for the Scottish champions, who have faced sustained supporter protests following a disappointing summer transfer window and elimination from the Champions League.
Celtic currently find themselves trailing Heart of Midlothian in the Scottish Premiership table, an uncomfortable position for a club accustomed to domestic supremacy.
Wilfried Nancy, who replaced Brendan Rodgers after the latter resigned in October, has endured a torrid start to his tenure, losing all three matches since taking charge.
Those defeats include Sunday's Premier Sports Cup final against St Mirren, with tonight's fixture at Tannadice against Dundee United representing a crucial encounter for the beleaguered new manager.
Lawwell reflected on his two decades at Celtic with evident pride, recalling his boyhood experience of standing on the terraces at Celtic Park when the European Cup was paraded following that triumphant night in 1967.
Wilfried Nancy was hired to replace Brendan Rodgers but has had a torrid time so far
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"I have subsequently watched some great European nights at Paradise and am proud that the club has played group-stage football in all but two of the last 21 years while also enjoying domestic dominance," he remarked.
The departing chairman also expressed particular satisfaction with the Celtic FC Foundation's growing charitable impact, describing the club as "more than a football club."
He extended gratitude to colleagues, coaches and players who contributed to what he termed "this era of remarkable and historic success."
Brendan Rodgers resigned from Celtic in October | REUTERSPrincipal shareholder Dermot Desmond expressed his personal sorrow at losing Lawwell whilst acknowledging the circumstances that prompted his departure.
"I understand and respect his decision in light of recent events and what he has endured," Desmond said, paying tribute to "all he has given" to Celtic over so many years.
Desmond highlighted that Lawwell had witnessed 38 cup or title triumphs during his tenure, whilst also overseeing the construction of the Lennoxtown training centre and upgrades to Celtic Park.
Chief executive Michael Nicholson described it as "a sad day for Celtic," condemning the abuse and threats directed at Lawwell and his family as "completely unacceptable."