Mike Newton leaves LaticsMike Newton has stepped down as a Latics' director for a second time.
The decision has been made after the New York-based businessman had talks with Latics' Chairman Simon Corney.
Mr Newton said: "Simon wants to restructure the board and I have agreed to stand down..
"Simon is a deep personal friend and hopefully things will work out for him.
"I have enjoyed my time at the club and wish them all the best."
Mr Newton added he had put a "meaningful" amount of money into the club and that he has written it off as a donation.
Mr Corney paid tribute to Mr Newton who returned to the club 12 months ago having initially stood down at the end of the 2009/10 season.
He said: "Mike has been instrumental in helping to shape various aspects of the club.
"Due to his day-to-day commitments and being based in New York, he is not able to get across so often.
"When he has been here, he has provided a useful insight."