The Gunners have confirmed that Gazidis will join Italian giants AC Milan in December.
“For the last 10 years I have been privileged to dedicate myself to this great club. Arsenal is entering a new chapter and I have done everything I can to ensure that it is strongly placed to take on that challenge,” he said in a statement on Arsenal’s official.
“This includes world-class facilities and outstanding leaders in every sector who carry the values of the club, including, of course, Unai Emery, Raul Sanllehi and Vinai Venkatesham, in whom I have enormous faith.
“Although it is very hard to do – the hardest decision of my life – I believe that, after 10 years, it is the right time for me to step aside to allow new leadership, energy and ideas to take the club forward into this exciting new era.
“While this is the most difficult and challenging course for me, I am excited to see what the future holds for this great club.
“After so many years at Major League Soccer and Arsenal, I am now looking forward to joining one of the world’s other great clubs, AC Milan, and working to restore it to its rightful place in football. Until then, I will continue to devote absolutely all my energy until my last day to ensure an orderly transition for the benefit of Arsenal Football Club.”