Paul Scholes has been named manager of League Two club Oldham Athletic.
The former Manchester United and England midfielder, 44, has taken his first managerial role, signing a one-and-a-half-year contract with the team he supported as a boy.
He was cleared by the English Football League to take the role, despite holding a 10% stake in Salford City.
The National League side have confirmed he has resigned as a director, but will retain his shareholding.
“Although Paul was never operational in Salford City he will resign as a director of the football club, allowing him to focus completely on his new role at Oldham,” Salford said in a statement.
“From the start we have always said that each of the ‘Class of 92’ would offer different levels of commitment dependant on their individual roles.”
Salford could be promoted to League Two this season and EFL rules prevent a person holding roles with two clubs at the same time without prior consent – although a holding of 10% or less in a club is disregarded providing it is held “purely for investment purposes”.
Scholes, who will be bringing in former Latics coach Mike Priest as his assistant, takes over with the club 14th in the table, nine points off the play-offs and 14 points above the relegation zone.
Academy manager Pete Wild has been at the helm since they sacked Frankie Bunn on 27 December following a 6-0 defeat against Carlisle United.
Wild led Oldham to a 3-0 win at Crawley Town on Saturday, ending a three-match losing sequence.
United legend Scholes said in October 2017 he had been interviewed for the manager’s job at Boundary Park before Richie Wellens was appointed, and spoke of his desire to “get back into football in some capacity” after news of his talks with Oldham were reported in January.
“It’s no secret how much he has wanted this job in the past and how much he loves this club, so I’m very happy to bring him into our family at Oldham Athletic,” said owner Abdallah Lemsagam.
“Paul will have my backing 100% and hopefully we can work together to bring success back to this club.”
The ‘Golden Generation’ and ‘Class of 92’
Scholes was widely regarded as one of the best midfielders in world football and is the latest from England’s so-called ‘Golden Generation’ to move into management.
He was often played out of position in a wide role with the national side to accommodate Frank Lampard and Steven Gerrard, both of whom have taken their first steps into management with high-profile appointments prior to the start of this season.
Former Chelsea midfielder Lampard took over at Derby County and has guided the Rams to seventh place in the Championship, while Gerrard has taken Rangers to second position in the Scottish Premiership.
Another ex-United and England star, Phil’s brother Gary Neville, had a brief but unsuccessful spell as Valencia boss, while former England and Chelsea captain John Terry is assistant boss at Aston Villa.
He initially announced his retirement at the end of the 2010-11 season and made a comeback at the start of 2012 before finally calling time on his career having won 11 Premier League titles, three FA Cups, two League Cups, five Community Shields and two Champions Leagues.
He also played 66 times for England, retiring after Euro 2004 to focus on his club career.
After his playing career finished, Scholes was part of the five-strong Manchester United ‘Class of 92’ to buy a controlling stake in Salford City and was briefly joint caretaker-manager, with Phil Neville, in 2015.
That, along with a short spell on the United coaching staff when the now Wales manager Ryan Giggs took temporary charge at Old Trafford following David Moyes’ sacking in 2014, remains his only experience in the dugout.
Salford have won three promotions under the ‘Class of 92’s’ ownership and are fifth in the National League, with hopes of climbing into the EFL for the first time in their history.