PR majority shareholder Tony Fernandes has announced he is stepping away from the club with “a heavy heart”.
The Championship club said Fernandes, who acquired the Rs with Ruben Gnanalingam and Kamarudin Meranun in 2011, had decided to sell his entire shareholding in order “to concentrate his time on other business interests”.
Fernandes acted as chairman from 2011 to 2018, during which time the Rs were twice relegated from the Premier League.
The Malaysian entrepreneur said: “My involvement with QPR has been an incredible period of highs and lows.
“Outside of family, I have experienced some of the most enjoyable moments of my life thanks to QPR.
“On the pitch, there have been special victories and it was an honour to be there and see us win promotion to the Premier League at Wembley Stadium.
“Off the pitch, QPR’s reputation as a true community club is something I have always been very proud of.
“I am a passionate person and that means the good times have meant so much but, equally, the tough times have hurt.
“This decision to step away is made with a heavy heart. I would like to thank the supporters who I have experienced the last decade of adventures with.
“I will continue to look out for QPR’s results and wish the board nothing but success for the future.”