The second-largest shareholder at the club behind Textor, Kang was already president of the Lyon women's team.

"Michele is a perfect choice to lead OL in the next phase and I have full confidence in Michele and OL will come out stronger under her leadership," Textor said in a statement released on Monday.

Textor had already said last weekend that he intended to step down from running the club.

French football's financial watchdog (DNCG) relegated Lyon to Ligue 2 last week but the seven-time French champions immediately said they would appeal the decision.

The club later said that UEFA was prepared to allow them to play in the Europa League next season if their appeal is successful, although they would have to pay a fine.

Lyon finished sixth in Ligue 1 last season to qualify for the Europa League.