Jackson has been at the helm of Essendon for the past 13 years, a period that has seen the Club develop into one of the most financially robust organisations in the competition.

The Club has also experienced great success on-field, winning the 2000 Premiership, playing in another Grand Final and appearing in the finals in eight of those 13 years.

Jackson told a full staff meeting of his decision on Tuesday and the playing group today.

“I think as a leader it is important to recognise when the time is right for change. From the perspective of the football club - and also from a personal point of view - I think that time is now,” Jackson said.

“AFL football is a very demanding industry – you don’t work in it, you live in it – and that takes a lot of energy. I will always retain a connection with the game but there are also things away from football that I now wish to focus some of my energies on. I am very comfortable with my decision.

“There is still a lot to be achieved in the coming months and I look forward to continuing to work with the board, management and staff to further strengthen the club’s position on and off the field.”

Essendon chairman Ray Horsburgh said his board will now embark on a thorough search to find a replacement for Jackson.

“Peter Jackson has done an outstanding job in his time as CEO and managing director of the club,” Horsburgh said. “We are pleased he has agreed to remain in the position until the completion of this season.”

“The timing of this announcement will give the Club time to put in place the right process to find a replacement who can work with the club’s executive and staff to build on the wonderful foundations that have been established under Peter’s guidance.”