LONDON (Reuters) - Arsenal's managing director Keith Edelman resigned on Thursday, the Premier League club said.

Edelman quit as director of Arsenal Holdings PLC but will be retained by the north London club for 12 months to ensure a smooth transition takes place.

During his eight years at Arsenal, he oversaw the club's move to the Emirates Stadium from Highbury in 2006 and said he was now ready for a new challenge.

"I have thoroughly enjoyed my time at Arsenal," he said in the club's statement. "I am proud to have contributed to the club's many off-field achievements ... not least the Emirates Stadium project.

"Now that we have completed our second season at Emirates, I believe it is the right time to seek pastures new and embark upon fresh challenges."

The club, who lie third in the league table with two matches to play, said they had started looking for a replacement but in the meantime director Ken Friar would serve as acting managing director.

(Writing by Sonia Oxley, editing by Pritha Sarkar)