Chelsea earlier confirmed that the chairman Buck would be stepping down from his role effective 30 June.
Buck will now continue to support and consult Chelsea as a Senior Advisor.
During his tenure, Chelsea senior men’s team earned 18 major trophies while the women’s team won 12 major trophies.
Reacting, the owners of Chelsea Boehly thanked Buck for his service and commitment to Chelsea.
He told the club’s official website: “Bruce has led Chelsea Football Club to the highest levels of international and domestic football, while also developing one of the most active social responsibility projects in sport.
We thank Bruce for his service and his commitment to the Club.”