Eggert moves over at WHU

West Ham's billionaire owner Bjorgolfur Gudmundsson will now take a more hands-on role after Eggert Magnusson's decision to step down as executive chairman.

The London club said Magnusson would move to a back seat role as non-executive chairman.

'Bjorgolfur Gudmundsson, the club's owner, will continue to chair the club's holding board and this body will direct the overall strategy of the club,' West Ham said on its website.

"I have enjoyed my time as Executive Chairman but feel the moment is right to stand back a little," Magnusson said.

'We have worked hard to create stability and optimism sometimes in very difficult and trying circumstances. I think it is now important to broaden the management team,' he said.

"It is now vital for our longer term ambitions to become one of the leading clubs in England playing for honours both at home and in Europe that we strengthen the senior team at the club and build a truly professional management structure."

Bjorgolfur Gudmundsson purchased West Ham for £85m but has since kept a low profile.