Peter Walker has announced he will leave his post as Sunderland's chief executive at the end of the year.

His decision to leave the Stadium of Light comes after over 10 years of loyal service to the club.

He almost walked away from the club following the Drumaville takeover in 2006, only to be persuaded to stay by Niall Quinn as the new chairman sought stability.

He said in a statement: "After over 10 years, I have decided to move on from Sunderland Football Club and seek a new challenge as chief executive of Omega PLC, having been a non-executive director of the holding company for nearly two years.

"I have thoroughly enjoyed my 10 years in football and am confident that I am leaving the club in an excellent position but think the time is right for me personally to broaden my horizons and accept a challenge in a new industry.

"I am very proud of the team of people that we have brought together at Sunderland over a period of time and it has also been a pleasure to work with Niall, Roy (Keane) and the board in the last two years since the takeover.

"I will be very sad to leave because of the people but I am sure that the professional team at Sunderland both on and off the pitch, will take the club on from strength to strength."

Quinn told the Sunderland Echo: "We successfully talked Peter out of leaving about 18 months ago as I really needed him to help us during the important transitionary period after the takeover of the club by Drumaville."

"I have had to reluctantly accept his decision on this occasion but for the record, although he is not one to look for credit, I think supporters should know of the important work he has done behind the scenes for this football club.

"Before we shook hands I did manage to sell him two season tickets though and we'll look forward to welcoming him back for matches in the future."