Bayern Munich have elected Adidas chairman Herbert Hainer as the club's new president following an emergency board meeting.
The move comes after Uli Hoeness stepped down as president on Friday after being sentenced to three years in prison for tax evasion.
Hainer, 59, received a majority vote and will assume the position with immediate effect.
Hainer said: "Uli Hoeness has always served Bayern Munich's best interests with his leadership qualities, his high personal involvement and his exceptional lifetime achievements.
"He has made a considerable contribution to Bayern Munich becoming one of the most successful and attractive clubs in the world, financially and sportingly, and we will always be extremely grateful to him for this."