Nicola Cortese will continue in his role as Southampton's executive chairman the club have confirmed.
The Italian was said to be considering his future due to uncertainty about the club's direction. This in turn led coach Mauricio Pochettino to say that he would leave the club were Cortese to depart.
But following a meeting with owner Katharina Liebherr, Cortese has resolved his differences regarding the club's "long-term direction" and their plans for next season.
Cortese said on the club's official website: "We are now in a position to move forward with our ambitious plans for the Club and I would like to thank Katharina for the very helpful manner in which she approached our talks about long term strategy. I am pleased that this matter is now resolved.
"We can now focus 100 per cent on our preparations for next season. We have tremendous momentum now at the Club and we are looking forward with great confidence to an exciting and successful campaign next season.
"The last few days have shown me the unity that we now have across the Club in the players, the First Team Manager, the staff and the Chairmanship which normally takes years to achieve. I have always believed that to create this unity would make us a very strong Club and it is a unity of which I am unashamedly proud."