Blackpool have announced Karl Oyston is no longer chairman or director of the Sky Bet League One club.
Blackpool confirmed Oyston’s departure in a statement on Friday, which read: “Natalie Christopher has been appointed the new Chairwoman of Blackpool Football Club.
“Mr Karl Oyston is no longer Chairman or Director of the club, or any other Oyston Group company.
“The club will make no further comment at this time.”
The Oyston family were recently forced to pay £10m to Valeri Belokon following a High Court ruling against them.
Blackpool’s owners were ordered to complete a financial buyout of the Latvian businessman’s holding in the club, costing £31.27m, on November 6.
Belokon, through his company VB Assets, has a minor stake in the club but brought an action against the Oystons alleging they had shown unfair prejudice against shareholders.