Schofield was appointed January 1, 1975 and has overseen a huge improvement in the European Tour. When he started there were 17 official events worth $753,000 while last year there were 48 events with official prize money of $124 million.
'To stand aside is always difficult, but 30 years is a long time, indeed a rare privilege and to go beyond would be selfish particularly as, together with George O'Grady, we have seen a huge interest develop in the game and the tour,' said Schofield. 'The tour today is stable and will continue to progress and can be in no better hands than with George leading a talented management team.'
'Ken has been a unique leader of The European Tour for approaching 30 years, and in that time we have formed a formidable partnership and relationship,' said O'Grady. 'To receive the universal backing of all on the Tournament Committee and the Board of Directors at the joint meeting to succeed him was both important and invigorating.'
The Board and Tournament Committee unanimously voted in O'Grady, who joined The European Tour as a Tournament Director in 1974. He was chief referee at The Ryder Cup in 1977 at Royal Lytham & St Anne's and the Staging Manager for The 1981 Ryder Cup at Walton Heath.