Professor John McKenzie has confirmed that he will not be standing for re-election as Leeds plc chairman at next week's annual general meeting.
McKenzie has decided to step down to ensure there will be no possible conflict of interest should he represent potential new investors in negotiations with the club's advisors or creditors during the next few critical weeks.
McKenzie, who took over the troubled Premier League club at the end of March following Peter Ridsdale's resignation, is understood to be mounting his own takeover bid, potentially with a Chinese consortium as he has strong business connections in the Far East.
