Gray's decision, made for personal reasons, ends a glorious period in which Preston climbed from Division Three to last season's First Division play-off final.

Deputy chairman Derek Shaw will act as chairman until a new appointment is made.

"When Bryan arrived at the club we were in the lower reaches of the Third Division with an old, dilapidated stadium.

"Sound business practices have been adopted both on and off the pitch and these have resulted in the success we have had as a club."

Shaw added: "Bryan will be able to look back in future years and say he helped lay the foundations that made Preston North End great again."