(Reuters) - Former Bayern Munich captain Oliver Kahn is set to return to the club as a board member next year and will take over as chief executive in 2022, the German Bundesliga club said on Friday.
On the day current Bayern president Uli Hoeness announces his retirement from his decades-long involvement with the club, the German champions appointed another successful former Bayern player to succeed current CEO Karl-Heinz Rummenigge.
Kahn, nicknamed 'the Titan' who won eight league titles between 1994 and 2008 with the Bavarians, signed a five-year contract after the board voted unanimously in favour of the move in Thursday's meeting.
"It is a great honour to initially become a member of the beard and then take over the chairman role at Bayern Munich," the 50-year-old Kahn, a former Germany captain, said in a statement.
"I am deeply linked with the club that has marked my life considerably."
When Rummenigge's contract expires on Dec. 31, 2021, Kahn will take over from him as chairman and CEO.
"We are convinced that we have found in Oliver Kahn the perfect solution looking into the future for the position of chairman of Bayern Munich," said Hoeness.
The former Germany keeper, who also won the Champions League with Bayern in 2001, had long been seen as a likely replacement for Rummenigge as the club look to install a new generation of senior officials.
Rummenigge had joined Bayern as a player in 1974, enjoying a hugely successful decade, and became the club's vice-president from 1991 to 2002 before taking over his current role.
(Reporting by Karolos Grohmann and Hardik Vyas; editing by Amlan Chakraborty)