Deans is to stand down as Falkirk chairman at the forthcoming AGM in December.
Director Gordon Colborn has also tendered his resignation from the board of directors and both will step down from their respective roles in December with the club allowing for a smooth transition process.
Deans became chairman in December 2019 ending Lex Miller’s period as interim chairman.
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October’s supporters Q&A event saw fans call for the resignation of Deans, and the Navy Blue supporters consortium once again made clear any offer of investment would include a new chairman being put in place.
Colburn has only been on the board of directors since August 2020 when he joined with current members Gordon Wright and Colin McFarlane.
A club statement said: “Falkirk Football Club can announce that Directors Gary Deans and Gordon Colborn have tendered their resignations from the Board of Directors and will step down from their respective roles at the Club’s AGM which will take place in December.
"These decisions have been taken for a number of personal and family reasons and it is important that there is now a smooth process to appoint new directors to the Board.“Discussions will now take place with key stakeholders over the coming weeks around the future governance of the Club and we will keep supporters updated on matters as they develop.”
American investors Phil and Carrie Rawlins will also step down from the board at the AGM.
They contributed a six-figure investment to the club in January and they joined the board whilst still residing in the US.
Phil and Carrie visited the club for the first time last month and attended the Q&A session with Phil admitting he felt the club was in the ‘worst position is possibly could be in’.
A club statement said: "Phil & Carrie Rawlins have also announced that they will also be stepping down from the Board at the forthcoming AGM."