Barry Hearn is stepping down as chairman of World Snooker and the Professional Darts Corporation (PDC), as well as the major sports promotion company he founded almost 40 years ago.
The 72-year-old is being replaced by boxing-promoter son Eddie as chairman of Matchroom Sport and the PDC.
Steve Dawson is to take over as head of World Snooker when the World Championship finishes in May.
“I know the company is in good hands,” Hearn said.
“It has been a huge honour to have worked with some of the greatest sports people on the planet across the last 40 years and enjoyed so many wonderful experiences across our spectrum of events in that time.”
Hearn, who is to stay on as president of the Matchroom Sport group in an advisory role, founded the promotions company in 1982 and was instrumental in turning snooker into one of the most keenly followed sports in Britain.
He then went on to promote some of Britain’s biggest boxing events from the late 1980s, and expanded into a number of other sports including darts and golf.
In April 2020, he had surgery after suffering a heart attack but made a full recovery.
His 41-year-old son Eddie has led the company’s boxing division for a number of years already and now, along with taking over as chairman of the Matchroom Sport group of companies, he heads up Matchroom Boxing, including its US arm, and golf’s PGA EuroPro Tour.
