Massimo Moratti has confirmed that new Inter owner Erick Thohir will also replace him as President of the Nerazzurri.
There were suggestions that Moratti would remain as chief of the Beneamata, but the Indonesian businessman has been named in the role.
“I thank everyone,” Moratti said at a board meeting on Friday. “I leave this marvellous Inter, but I leave it in excellent hands.
“This club is making an important step forward on an international level. All of my family who have a role at Inter will remain at the disposal of this club, but we have decided to pass it on.
“The new owners are professional, enthusiastic and have the desire to make this club grow.
“Inter is not the club of directors or a single person, it is a sentiment that is felt by the fans and the players, it is a passion that becomes a memory.
“I leave this club with the certainty that it goes to people who have a responsibility and respect for the colours and the history of Inter.”
Moratti has reduced his shares in the outfit from 98.3 per cent to 28.3 per cent. Pirelli keep 1.6 per cent and the minority shareholders 0.1 per cent. Thohir now has 70 per cent of the outfit.
Moratti has been named as the honorary chairman of the San Siro outfit.