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Outgoing managing director Thompson has been made honorary life president after 45 years with the club.
Thompson joined the club's management in 1981, before the merger in 1992, and became MD in 2007. He was awarded an MBE in 2013.
He has also served on the board of the National League and has been a vocal advocate for the league's "3 Up" campaign, which would see a third promotion and relegation place added from the fifth tier to League Two.
"Firstly, can I say that it has been a privilege to have been associated with the club for so long and the part I have been able to play over the years," he said., external
"But with the takeover by the Happy Fan Group, I feel it is the right time to step down and hand the reins to the new owners.
"As a lifelong supporter first, I wish them the very best for the club. I am also extremely humbled and honoured to have been made the club's honorary life president, and I thank the new board for their generosity."