Aldershot Town have confirmed that director Deane Wood has taken over the role of chairman and owner at the club.

Outgoing chairman Shahid Azeem and fellow director John Leppard have stepped down from their roles.

A Shots statement said: “Aldershot Town Football Club confirm an agreement has been reached with director Deane Wood to assume the role of chairman and owner. The controlling shares of the club are held by Deane, subject to league approval.

“Shahid Azeem and John Leppard have written off their entire loans to the club and are in the process of transferring their shares to Deane at no cost. Deane’s existing loans are also being converted into shares as part of this transition. With immediate effect Shahid and John will be stepping down as directors.

“This decision follows confidential discussions with an external consortium that had expressed an interest in taking control of the club. As that process was taking longer than expected, it was in the club’s best interests to take the proposal offered by Deane. As directors with responsibility for the long-term wellbeing of Aldershot Town Football Club Shahid and John accepted this offer in the best interests of the club.

“Shahid and John were members of the consortium that took the club out of administration during the summer of 2013. Shahid assumed the role of chairman and is the longest serving chairman in the history of the club.

“As outgoing directors, Shahid and John wish Deane every success in his new role and will remain friends. They fully understand the challenges involved in running a football club and are committed to offering Deane their full support wherever their experience and assistance may be required. They believe this transition places the club in a strong position for the future and the change ensures continuity and stability.”