A statement from Scunthorpe United read: "Following the last game of the season, Steve Wharton has retired from the board with immediate effect.
Discussions have taken place with Peter Swann, who is leaving Gainsborough Trinity, and he has agreed to join the board of Scunthorpe United and take the position of chairman in the near future."
Swann ploughed £1.5million into non league Gainsborough during his five year tenure, last week citing poor health and the inability to purchase the club's ground the Northolme as reasons for his departure.