Local-based businessman David Allen has left his posts as owner and as chief executive with Carlisle United.
Allen has handed over his shares to three other members of the board, citing an "irretrievable breakdown in the relationship" for leaving.
The solicitor was part of a four-man consortium that took full control of the club from former chairman Fred Story in July 2008.
Andrew Jenkins, Steven Pattison and John Nixon all remain at the club.
Allen described the board as "lacking in proper working structure", and was "frustrated by a lack of vision, direction and drive" within the group.
He said: "This board is letting down the club and is letting down the fans. I want to be part of something better than that.
"I can't see how the club can move forward until we have a complete change at the top.
"New ownership needs to come in with power, vision and direction."
A statement on the Carlisle United website read: "David Allen has decided to leave to concentrate on his business interests.
"Carlisle have accepted his resignation, with immediate effect, both as owner and director."
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