B. League chairman Masaaki Okawa will step down from the post and former Chiba Jets Funabashi president Shinji Shimada will replace him, the men’s pro basketball circuit announced Tuesday.

Okawa’s resignation had been speculated about in media reports last week, but became official when the move was approved by the league’s board of directors Monday.

“I would like to report that the replacement of the chairman’s post was discussed by the board of directors,” Okawa, 61, said in an online news conference. “First, I will resign as the B. League chairman on June 30 and then Mr. Shinji Shimada is going to assume the role on July 1.”