Kyril Louis-Dreyfus has become Sunderland chairman at the age of 23 after his takeover of the League One club was approved by the EFL.
Former Sunderland owner Stewart Donald will keep a minority shareholding.
"Kyril's commitment, acumen and integrity convinced us to accept his proposal," Donald said.
"His vision and desire to bring success back to Sunderland was obvious from the outset and his bid is the one that we feel gives the club the best chance of long-term success and sustainability."
More to follow.