Bill Kenwright is set to stay as Everton chairman.
There has been pressure from fans for Kenwright to resign after another disappointing season at Goodison Park.
But owner Farhad Moshiri insists the club needs the 77 year-old's experience as the club undergoes changes at board level.
In a club statement, Moshiri said: "I wanted Bill to remain as our chairman during this important period of transition for the club and I am delighted that he has accepted my request to do so.
"Bill's knowledge and vast experience will be crucial for us as we look to reset, deliver on external investment and position Everton for a successful future."