Herbert Hainer is the new chairman of the Bayern Munich advisory board, the club announced on Friday.
The club hosted a teleconference just hours after Uli Hoeness resigned his position having decided not to appeal his conviction for tax evasion.
Hainer, the 59-year-old chief executive of Adidas, was unanimously approved as new chairman of the supervisory board having previously held the position of deputy chairman.
The club also said Karl Hopfner, vice-president and member of the supervisory board, had been unanimously elected to the executive committee of the supervisory board.
“Uli Hoeness has, with his leadership, personal dedication and ability, served to the benefit of Bayern Munich,” said Hainer on the club homepage.
“He is responsible for turning Bayern Munich into one of the most sporting and financially successful and attractive clubs in the world.” “For this he deserves all our thanks,” he added.
Uli's lawyers had originally announced that Hoeness would appeal Thursday’s decision to sentence him to jail after he was found guilty of evading an estimated 39.7 million dollars in tax.