American billionaire Randy Lerner became chairman of Aston Villa on Tuesday after increasing his shareholding in the club to almost 90 percent.

The move, confirmed by the Premiership club to the London Stock Exchange, saw Doug Ellis, 82, step down from the position he had held for most of the last 38 years, along with four other directors.

Lerner needs to control 90 percent of the shares before he can compulsorily purchase the remaining 10 percent.

Villa confirmed that Ellis, whose association with club goes back to 1968, would become honorary president. He was chairman until 1975 and after a seven-year break with the club, returned to the position in 1982.

Ironically, Villa's greatest successes of the 20th century came when Ellis was NOT chairman - in 1981 and 1982, when they won the English League title and then the European Cup.

Meanwhile, General Charles C. Krulak, Bob Kain and Michael Martin have been appointed new non-executive directors of  Villa.