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Fred Ridley replaces Billy Payne as Chairman of Augusta National

AUGUSTA, GA - APRIL 09:  Fred Ridley, Augusta National member, looks on during the Green Jacket Ceremony during the final round of the 2017 Masters Tournam

Fred Ridley is relishing a new challenge after officially beginning his reign as the Chairman of Augusta National on Monday.

Ridley is the venue's seventh chairman since the Masters began in 1934 and the first to have played in the event, having made three appearances from 1976 to 1978.

The 65-year-old from Florida replaces Billy Payne, who announced his retirement in the summer after 11 years in the role.

AUGUSTA, GA - APRIL 05:  Augusta National chairman Billy Payne and competition committee chairman Fred Ridley look over the 18th green during a practice ro
Image: Ridley (right) officially took over as Augusta chairman on October 16

In a statement, Ridley said: "I would like to thank Billy Payne, our esteemed Chairman Emeritus, who appointed me as his successor.

"His confidence in allowing me this honour has already had a profound impact on my life. I am grateful to consider him a friend and mentor, both personally and professionally."

Sergio Garcia of Spain plays his shot from the fourth tee during round three of the Dell Technologies Championship at TPC Boston
Image: Garcia is the defending Masters champion

Ridley became a member at Augusta in 2000 and has been serving as the Chairman of the Tournament's Competition Committee since 2007.

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The Flordia native won the US Amateur title in 1975 and was a two-time Walker Cup captain, having also featured in the 1977 winning side during an impressive amateur career.