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Southampton’s owners have announced a shake-up at board level in the wake of relegation from the Premier League.

Martin Semmens has left his role as CEO, with Sport Republic – the majority shareholder at St Mary’s – taking full operational control of the club.

Serbian businessman Dragan Solak has been appointed chairman of Sport Republic but Rasmus Ankersen will continue as CEO of the company and Henrik Kraft stays on as club chairman.

Saints are still looking for a new manager, with Swansea boss Russell Martin reported to be the frontrunner.

A statement read: “These are the first of many changes that we will be making to ensure the success of the club.

“Our incoming director of football, Jason Wilcox, will lead a review of the football department and we will announce the club’s leadership team for next season in the coming weeks.

“By taking these steps now, we are laying the groundwork for our goal of returning Southampton FC to the Premier League as soon as possible.”