THE chairman of Leyton Orient Football Club says it is “business as usual” following the resignation of the club's vice chairman.

Barry Hearn told the Guardian that he had a very short conversation with bankrupt city financier Nick Levene on Sunday during which they discussed his position on the board and Mr Levene agreed to step down.

He said: “My only concern is the club and it is operating in a normal fashion and hasn't been affected at all.”

When asked whether the resignation has damaged the club's reputation, Mr Hearn responded: “There couldn't be any damage to the club. He stepped down as he should do and is no longer associated with the club or involved in any way, so it is difficult to see any repercussions for the club.

“It is business as usual and nothing has changed.”

Mr Levene’s six per cent stake in the club was frozen following a High Court order preventing the sale of his assets, but Mr Hearn said that because it was a small share, there will be no financial implications for the club.

The O's chairman confirmed that his son Edward, who was already on the board, has taken up the role of vice chairman with immediate effect, though he said it is simply a title and he will have no additional power.

Mr Levene, a regular at O’s home games until August, broke his silence to inform chairman Barry Hearn of his decision to step down as vice chairman.

The former derivatives trader from Hertfordshire, who is nicknamed Beano, reportedly disappeared a week ago, triggering speculation about his multi-million pound business dealings.

He is said to be currently undergoing treatment at The Priory clinic.