Paul Scholes becomes League Two club Oldham Athletic manager
The 44 year old former Manchester United and England midfielder, took his first managerial role, signing a one-and-a-half-year contract with the team he supported as a boy.
He was cleared by the English Football League to take the role, despite holding a 10% stake in Salford City.
The National League side have confirmed he has resigned as a director, but will retain his shareholding.
“Although Paul was never operational in Salford City he will resign as a director of the football club, allowing him to focus completely on his new role at Oldham,” Salford said in a statement.
“From the start we have always said that each of the ‘Class of 92’ would offer different levels of commitment dependant on their individual roles.”
Salford could be promoted to League Two this season and EFL rules prevent a person holding roles with two clubs at the same time without prior consent – although a holding of 10% or less in a club is disregarded providing it is held “purely for investment purposes”.
Academy manager Pete Wild has been at the helm since they sacked Frankie Bunn on 27 December following a 6-0 defeat against Carlisle United.
Wild led Oldham to a 3-0 win at Crawley Town on Saturday, ending a three-match losing sequence.