Shepherd replaced as Magpies chairman

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Shepherd has been replaced by Chris Mort following the takeover of the club earlier this summer by St James Holdings Limited, the bid vehicle of billionaire businessman Mike Ashley.

Mort told the club's official website: "I am delighted to become chairman of such a fabulous club. Since arriving at St James' Park I have been hugely encouraged by the warm welcome I have received from so many supporters."

He added: "The strategic review of the club is going well and, with the new season fast approaching, we feel the time is right to make the change. I would like to thank Freddy Shepherd for all he has done for the club over the last 15 years."

Shepherd, who succeeded Sir John Hall as Magpies chairman in 1997, sold his 28% stake in the club to Ashley's consortium in June for more than £37million.

The new owners then declared they intended to complete a strategic review of the club from top to bottom.

Mort was appointed as deputy chairman following Ashley's takeover of the club and now steps up to the role of chairman.

At the time of selling his stake to Ashley's consortium, Shepherd told the Stock Exchange: "The time since Newcastle's flotation in 1997 has seen a radical transformation in the club and its fortunes, with the club now being one of the 20 wealthiest clubs in Europe with one of the finest stadiums in European football, a Premier League participant and a regular participant in European UEFA competitions with a fantastic fanbase.

"The offer from SJHL is at a level which fully reflects both the performance of Newcastle and its prospects and ambitions for the future.

"The board believes that SJHL and Mike Ashley will be excellent custodians of Newcastle United's heritage and will provide the best possible opportunity for the club to flourish in the future, to the benefit of the company and its fans."