Aston Villa chief executive Paul Faulkner leaves

Villa today announced the departure of chief executive Paul Faulkner after failing to reach agreement on his future role.

Chief financial officer Robin Russell, who was recruited by chairman Randy Lerner in 2006, has been appointed acting chief executive.

Villa admitted they couldn't find a way forward for Faulkner to remain in Lerner's wider business interests and Villa.

In a statement, the club said: "Having discussed his re-engaging with the chairman's broader business while remaining involved with Villa in a non-operational role, agreement could not be reached.

"On the strength of many productive years together, and a long-standing friendship, Faulkner has parted on good terms.

"He has offered his support to the Villa organisation to ensure a smooth transition."

Faulkner was appointed as chief executive in May 2010 after two years as chief operating officer.

Like Lerner, he is a Cambridge graduate and worked in the chairman's MBNA banking organisation as a relationship manager for five years prior to his arrival at Villa.

Russell has been on Lerner's payroll for more than 20 years.

Faulkner said: "I'd like to thank Randy Lerner for the opportunity to become involved with Aston Villa and for the relationship we built over years, which pre-dated my time at the club.

"To the Villa fans, I'm grateful for their support over the years, and for their passionate love for and loyalty to this great club, which deserves the very best.

"I would like to make particular reference to the wonderful Villa staff both at Bodymoor Heath and Villa Park.

"They are an incredible group of people and it's been a privilege to lead and work with them on a daily basis.

"Villa is best in class in so many ways off the field and I only hope that success on the pitch follows.

"I feel very humbled to have been able to spend such a long period of time among such special people at such a special club.

"I wish them, Paul Lambert and the squad all the very best for the future as I look to embark on the next stage of my career and a new challenge."

Lerner said: "Paul has been fantastic in his role at Villa and more broadly as a colleague over the years. I offer him my deepest thanks."