Kenyon will continue to be a non-executive director and represent Chelsea on various Uefa and European Club’s Association committees.
The 55-year-old has spent over five years at Stamford Bridge.
“I am extremely proud of my time at Chelsea and of the friendships I have forged with everyone here,” he told the club’s official website.
“I have been in football for 15 years and I can say with great certainty and pleasure the experience at Chelsea is one of the best I have had.
“When I joined Chelsea it was an incredible challenge and together with all the staff, the players, the board and Roman (Abramovich), I think we have really built a club, in a relatively short space of time, that can be in the forefront of European football for many years to come. That is a major achievement.
“I am also delighted that our relationship is not ending and I can continue to make a contribution to keeping Chelsea in that position and to go back to visit friends.
“I intend to take a little time off before considering what I do next but I am certain I have at least one major challenge left in me.”
