"Earlier this year Jon Goddard-Watts let me know of his intention to pass on the ownership of the club and asked if the directors of Yeovil Town Football Club would help in that process.
As a result I am delighted to announce that David Webb has taken up all of Jon's shares and will take up the position of Chief Executive at Yeovil Town Football Club.
I will remain as chairman and all the existing board members will stay in position ensuring continuity and stability. David Webb, of course, is no stranger to the club having been the manager that started our current success.
I would like to take this opportunity, along with all the Yeovil fans, to thank Jon Goddard-Watts for all his support for the club over the past 8 years; without him we would not have achieved the most successful period in our history.
I would also like the whole club including players, staff and fans, to join me in welcoming David Webb as our new majority shareholder and Chief Executive at the start of the next exciting stage in our development."