Peter Heard has stepped down as Colchester chairman, reports BBC Essex. Club owner Robbie Cowling is the new chairman with Heard staying on as a consultant as the U's plan for their move into a new stadium.
Heard joined the United board in 1991, when they were in the Conference, before becoming chairman in 1998.
He has overseen the club's highest League finish of 10th in the Championship and planning permission for their new all-seater stadium.
They are set to move into the 10,000 capacity �14m ground to the north of the town in time for the 2008/09 season.