Newcastle United owner Mike Ashley has relinquished his position on the club's board of directors.

The businessman will remain with the Magpies, but is stepping down from the board along with finance director John Irving, who is leaving St James' Park.

The boardroom shake-up was announced following the appointment of Steve McClaren as Newcastle manager.

McClaren, chief scout Graham Carr, and club ambassador Bob Moncur have joined the board along with managing director Lee Charnley, making Newcastle the only Premier League club with a manager in the boardroom.

"This is a very positive step forward for the club and I am delighted that Steve, Graham and Bob will join me on the board," Charnley told the club's website.

"It was particularly important for us that the head coach also became a board member in order to gain a full understanding and appreciation for the club and its operations as a whole, not just the football side. In Steve we have an individual who embraced that responsibility.

"Graham and Bob's passion for the club is beyond question and I believe given the collective skills, knowledge and experience, together, we are incredibly strong."

McClaren has signed a three-year contract at St James' Park, a deal that could be increased to eight years depending on his performance.