United co-chairman Joel Glazer said:
“David has played a significant role in the success of Manchester United in his 10 years as chief executive and he can take great satisfaction in all that has been achieved on his watch, both on and off the field.
“He has been a tireless advocate for Manchester United and its role in the game and was the driving force behind the establishment of the Manchester United Foundation, which uses the power of the club’s name to bring change and improvement into the lives of those in disadvantaged communities around Manchester and far beyond.
“He is someone that has a reputation for decency and integrity and a man that has engendered the loyalty and total commitment of staff. He has been an invaluable confidant and adviser in the last eight years. I am very pleased he has agreed to remain on the board, so that his experience and counsel are not lost to us.
“I hope that the decision he has made will be to the benefit of the game in Europe as a whole, as he seeks election to UEFA’s Executive Committee.”