JASON McGILL has stood down as chairman of York City.

The club’s CEO, former manager Jackie McNamara, is also leaving the club with immediate effect.

A new board has been put in place.

The moves follow last Thursday's special general meeting of the Supporters Trust in which Trust members voted against the 'Golden Share' proposal which would have seen McGill's controlling interest in the Minstermen increase from 75 per cent to 100 per cent (minus one golden share carrying added protections).

A statement from the club said: "With immediate effect the chairman, Jason McGill, is retiring from his role and will have no further involvement in the running of the club.

"With immediate effect CEO, Jackie McNamara, is leaving York City Football Club.

"With immediate effect a new board of directors has been established to run the football club with the pressing need to produce a breakeven position whilst maintaining the aspiration of success.

"The new board consists of four directors:

"Ian McAndrew, chartered surveyor, as stadium development director;

"Dave Penney as sporting director;

"Richard Adams as marketing and communications director;

"Steven Kilmartin, chartered accountant, who will join as managing director in due course. Steven - under secondment from Hentons - will also undertake a thorough review of the club’s finances immediately."

McGill owns the football club through his company, JM Packaging.

The announcement on the club's website confirmed the statement was issued following the "decision by a majority of 139 York City Supporters’ Trust members to decline the JM Packaging offer of financing the football club until the opening of the new Community Stadium and, as a consequence, the decision by JM Packaging to offer the company’s interest in York City Football Club for sale".