Paris FC president Pierre Ferracci is to leave his position earlier than planned, with Antoine Arnault set to take over the Ligue 1 club’s leadership.

Ferracci had been expected to remain in the role until the end of the season, but announced his decision to step down at an event on Monday.

Arnault, representing the family that owns the majority of Paris FC, will become president if his appointment is approved by the club’s Administrative Council on November 9.

Ferracci will take on the position of honorary president after his departure. Paris FC’s Ligue 1 match against Monaco at Stade Jean Bouin on November 1 is expected to be his final game as president.

The outgoing president will also transfer his 28.9% shareholding to Agache Sport, the sporting subsidiary of LVMH. Red Bull will continue to hold a 10.6% stake in the club.

“It is the right time for me to pass the torch,” Ferracci said, according to L’Equipe.

Ferracci leaves Paris FC with the club third in Ligue 1 and level on points with leaders Lyon.