Jaime Orti resigned from his post as Valencia president on Tuesday after three successful years at the helm of the Spanish Primera Liga club.
"This was a personal decision and I feel happy about it," Orti told a news conference at the club.
"When you make an important decision like this you look back to see if you are satisfied with what you've done...and I feel proud of what I've achieved."
Leading shareholder Juan Bautista Soler was named as the new president by the Valencia board.
Orti became president when Pedro Cortes stepped down from the post in July 2001 and has led Valencia through one of the most successful periods in the club's history.
But despite success on the pitch, his presidency was bedevilled by a long-running power struggle with former president and major shareholder Francisco Roig.
The in-fighting eventually came to an end in June when Roig decided to sell his holding in the club to the Soler family for a reported 31 million euros ($38.14 million) shortly after the team won both the Spanish championship and the UEFA Cup.
"Orti will be remembered for the exceptional success he helped bring to the club," said his successor Soler. "He also played a very important part in healing the divisions at the club."
