KENT multi-millionaire Derek Chappell is the new chairman of Charlton Athletic plc.

Mr Chappell, 53, from Medway, succeeds Richard Murray who becomes chairman of Charlton Athletic Football Club.

Mr Murray will continue to provide the link between manager Alan Pardew and the plc.

Former football club chairman Martin Simons steps down to become deputy chairman but will play a key role in the development of the club's wide-ranging community initiatives.

Mr Chappell, who grew up in Medway and started work as an NHS clerk at the age of 16, is a former winner of the prestigious Entrepreneur of the Year award, is co-owner of Healthcare in Scotland, one of the fastest growing private hospital groups in Britain.

The company appeared in the Sunday Times Profit Track Top 100 companies for two successive years.

He takes over as Charlton seek approval from shareholders to raise up to £20 million through the issue of a new convertible bond.

Fourteen million of the proposed issue has already been underwritten by five Charlton plc directors - Richard Murray, Derek Chappell, Bob Whitehand, Sir Maurice Hatter and David Sumners.

The total raised will be used to repay recent loans made by these directors to support the company following relegation from the Premier League and to provide working capital for the company during the remainder of the season.

Charlton chief executive Peter Varney said: "This gesture by the directors show how they feel about the club. They all deserve huge credit."