Ann Budge to step down as Hearts statement released
Budge helped rescue Hearts from the depths of administration in 2014, becoming majority shareholder before eventually handed the reins over to the fan-led Foundation of Hearts.
She has continued to act as chair and played a vital role in building the club back up.
This has included the building of a new main stand as well as the Tynecastle Park Hotel.
The Tynecastle side has also been back on the European scene after being on the brink of going out of business following the Vladimir Romanov days.
After 11 years of involvement, Budge has now announced she will be stepping aside in December. Hearts have already started the search for a new chair.
She told the club's website: 'This is something I have thought long and hard about. Having discussed this with the Board, I feel now is the right time to confirm that I intend to step down later this year.
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'When I first got involved with the Foundation of Hearts in 2013, I could not have envisaged the journey it would take me on. Initially, the aim was to stabilize the Club before even thinking of growth. Now, 12-years later, as I look at where the club stands, I can allow myself to feel a sense of pride at what we have achieved.
'With Tony Bloom's investment now complete, and the supporters ensconced as custodians of the club, I believe I have done what I set out to achieve.
'The appropriate time for reminiscing and saying goodbye will come after the AGM in December but until then, my full focus will remain on what it has always been, and that is doing my very best for Hearts and our fans.'
Chief Executive Andrew McKinlay said: 'It cannot be overstated just how much Ann has done for Heart of Midlothian and on behalf of everyone at the club, I extend both my thanks and my gratitude.
'As we get closer to December's AGM we will update our supporters on our succession plans, but for now we will continue to enjoy and benefit from working with Ann until the end of her tenure as the club's Chair.'
Foundation of Hearts Chairman Gerry Mallon added: 'Ann will leave a remarkable legacy when she departs the club and we are extremely fortunate to have had 12 years of her knowledge and experience at the helm of Hearts.
'In particular, her participation during the birth of the Foundation of Hearts can never be downplayed, neither can the instrumental role she played in saving the club from the abyss and taking it back up to the top end of Scottish football.
'For that, I will be forever grateful to Ann, as I'm sure Hearts fans everywhere will be too.'
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