QPR appoint new chairman as Fernandes departs
Queens Park Rangers' co-chairman Tony Fernandes and Ruben Gnanalingam have stepped down from the club, with the replacement being Amit Bhatia.
Malaysian businessman Fernandes had been with the club since 2011, though now says "It's time for the club to have a chairman who is based in London."
Bhatia, who joined the QPR board in 2007, will swap roles with Gnanalingam and work alongside chief executive Lee Hoos.
Fernandes also remarked: "It's a good time for a change as the club is now in a stable position and this will give the new chairman a good foundation to build upon," the 54-year-old said.
"It was important for me to step down at a time where we have solved many issues such as Financial Fair Play (FFP), making the club sustainable, building a strong academy and having a strong backroom team."
The 'Hoops' were fined £17m in July as part of a £42m settlement for breaching FFP rules.