( CNN ) -- AS Monaco have promoted their Norwegian technical director to chief executive as the Ligue 2 team announced a management restructure as part of their strategy to return the French club to former glories . After buying a majority stake in the seven-time French champions in December 2011 , billionaire Russian businessman Dmitry Rybolovlev has handed Tor-Kristian Karlsen , who before joining Monaco as technical director in March 2012 worked as a scout for Zenit St Petersburg , the dual role of CEO and director general . The club won the last of their French league titles in 2000 and were Champions League runners-up in 2004 , before they relegated to Ligue 2 in 2011 . However , Rybolovlev , who according to Forbes has a net worth of $ 9 billion and is the 13th richest man in Russian , has ambitious plans to revive Monaco . In the summer Monaco appointed experienced Italian manager Claudio Ranieri as their new coach and signing promising Argentine youngster Lucas Ocampos for a reported $ 19m from River Plate . As well as establishing a reputation as a scout who was capable of identifying emerging global talent , Karlsen was briefly Norwegian club Frekrikstad 's sporting director between September 2008 and January 2009 . `` The management can now focus all its efforts on achieving sporting performance , '' Rybolovlev told the Monaco website . `` I am delighted to welcome Tor-Kristian Karlsen to his new position of Director General and CEO -- he has exactly the right qualities and experience to drive the future performance of ASM . '' As part of the restructure , Dmitry Chechkin is to step down as vice-president , with that role to remain vacant . Monaco are currently second in Ligue 2 , a point behind Dijon .
French club Monaco promote Norwegian technical director Tor-Kristian Karlsen . Karlsen takes up roles of chief executive officer and director general . Ligue 2 club last won French league title in 2000 . Russian billionaire Dmitry Rybolovlev bought majority stake in Monaco in 2011 .