Fathollahzadeh, who served as Esteghlal's CEO for the past six months, stepped down from his post due to financial irregularities reported in the club.
Hojjat Karimi has served as chairman of the board of directors at Esteghlal.
Esteghlal is considered one of the important teams in Iran and has won Asia's championship titles in 1970 and in 1991.
Currently, Esteghlal is second in table of Iran Professional League (IPL).
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