Richard Arnold, a Manchester United insider, appointed as the club's next CEO

Richard Arnold, a Manchester United insider, was named chief executive officer on Thursday, thus replacing executive vice-chairman Ed Woodward as the club's leader.

Arnold, who has been managing director for more than eight years, was viewed as the frontrunner to take over the English club when Woodward announced his retirement in April.

Woodward, who has been with the club since the American Glazer family bought it in 2005, was a key figure in the controversial European Super League idea, which enraged fans and provoked protests.

On February 1, Woodward will step down as CEO, a position that has been empty since David Gill's highly successful term ended in 2013. Woodward and Arnold are credited with propelling the club's financial success and securing a number of lucrative sponsorship deals.

United has had a rough first half of the season, leaving the 20-time English champions in seventh place and losing former manager Ole Gunnar Solskjaer his job. United won its last Premier League title in 2013 under the direction of Alex Ferguson.