WOLVES CHAIRMAN QUITS: ANGRY FANS GET THEIR WISH AS JEFF SHI STEPS DOWN AS WEEKS OF PROTESTS, WOTH ROB RDWARDS'S SIDE HEADING FOR THE CHAMPIONSHIP

Jeff Shi has stepped down as executive chairman of Wolves after a chaotic period for the club

Jeff Shi has stepped down as executive chairman of Wolves after a chaotic period on and off the pitch.

Despite overseeing some of the club’s most successful results of modern times, Wolves’ alarming plunge to the bottom of the Premier League has seen fans turn definitively against Shi and owners Fosun.

Nathan Shi - who is no relation to Jeff Shi - will step in as interim executive chairman. Jeff Shi said: ‘I took the keys to this chair with humility; today, I step aside with a heart full of gratitude.

'It has been an honour and a privilege to work alongside our leadership team, players, coaches, staff and – above all – our fans. Together, we have transformed the club into a global force, battling at the highest level.

'I would like to thank Fosun and the board for their trust, and every supporter for making Molineux shine. My seat may change, but my heart will still roar for this club every single game.

'I give my full support to the new management team and wish them every success in driving Wolves to even greater heights.'

With Jeff Shi as Fosun’s representative at Wolves, the club twice finished seventh in the top flight, as well as reaching the FA Cup semi-finals and the Europa League quarter-finals.

But this season has been dreadful. Summer recruitment was shambolic and under new boss Rob Edwards, Wolves need a miracle to avoid the drop after taking only two points from their first 16 games.

In protest at Fosun, a number of supporters did not enter the ground until 15 minutes into the recent home defeat by Manchester United.

Wolves face Brentford on Saturday with Nathan Shi expected to attend.

Nathan said: ‘I am privileged to have the opportunity to lead a club whose achievements, both on and off the pitch, are founded on collective effort, from our players and coaching staff to our employees, supporters, the Wolverhampton Council and the wider community. I am grateful for the trust the board has placed in me.’

Wolves have always stressed that Fosun have no plans to sell the club and are interested only in external investment.

But such a significant change as this will inevitably raise further questions about the direction in which the club is heading.

As for Nathan Shi, an internet search lists him as a representative of Club Med, the holiday company that is part of Fosun’s portfolio. Yet the LinkedIn page containing this information appears no longer to exist.

Nathan is also believed to have worked as Fosun chairman Guo Guangchang’s executive assistant.

- TOM COLLOMOSSE