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Cardiff City’s shareholders have approved a £6m Malaysian investment in the club.

Consortium leader Dato Chan Tien Ghee has been named as successor to chairman Peter Ridsdale, who had already announced he was stepping down.

The Malaysian investors have accrued approximately 30 per cent of the shares in the club.

Cardiff has estimated debts of £30m and faces its fifth winding-up order to settle a £1.9m tax bill on June 16.

As well as approving Chan's appointment as chairman at an extraordinary general meeting on Thursday (May 27), the Cardiff shareholders also agreed to appoint Paul Guy, U-Juin Tan and Michael Isaac as non-executive directors on the board of directors alongside Steve Borley and Alan Whiteley.

Alan Flitcroft and Keith Harris follow Ridsdale in stepping down as directors.

Gethin Jenkins, recruited from rugby union team Newport Gwent Dragons, was also confirmed as chief executive to run the club on a day-to-day basis, while Doug Lee takes over as finance director.

Cardiff missed out on promotion to the Premier League last weekend after losing to Blackpool in the play-off final.

Chan said: "The new board takes over at an important milestone in the history of the club, with the facilities, infrastructure, a dedicated backroom staff and a team that has a great opportunity and belief to challenge for promotion.

"We are looking forward to working together, utilising the passion, belief and involvement of every existing and new supporter of Cardiff City to bring long-term recognition and success on a local, national and international platform."

Chief executive Jenkins added: "It is our continuing aim to attain Premier League football for Cardiff City and the wider Cardiff community, while building a strong and sustainable business platform that can see the team and the club develop."