Aston Villa chief executive Tom Fox steps down

Aston Villa have announced that chief executive Tom Fox has decided to step down with immediate effect.

The American is blamed by many fans for Villa's poor performance in the transfer market.

He is the second high-profile departure from the club this week. Sporting director Hendrik Almstadt left on Tuesday after under a year in the role.

Chairman Steve Hollis told the club's website: "The Board would like to place on record its appreciation to Tom for his many contributions and commitment over the last 18 months.

"While the results this season have been disappointing he and his team have worked hard to put in place many changes necessary to put the club on a more sustainable path for the future. He leaves with our best wishes for the future."

Fox joined the club in August 2014 after spending five years as Arsenal's chief commercial officer. 

Fox said: "Joining Aston Villa was a huge privilege for me and while I'm bitterly disappointed by results this season, watching the club compete at Wembley in the FA Cup final last year is a memory I'll cherish.

"I'm appreciative to the Board and the owner for the opportunity to help put Villa back on a solid footing and able to compete in the most competitive sports league in the world.

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"Aston Villa is a proud and storied club which deserves to be among the elite in Europe and I have every confidence that it will once again find its way back.

"Regarding my resignation, the owner made it very clear last summer that he and I would seek to recruit a Board that would put the club in a stronger position in the event that a sale didn't happen.

"As the Board has taken shape, however, it has become clear that my role also has changed. While I am supportive of where the Board is trying to take the club, it is my feeling that given the changes they are making, it makes sense for me to seek another challenge."