Liz Nicholl steps down as UK Sport chief executive ahead of preparations for Tokyo 2020

Liz Nicholl is stepping down as the chief executive of UK Sport, the elite funding agency has confirmed.

A former Wales netball international, Nicholl had two spells as the All England Netball Association's chief executive before joining UK Sport as its director of elite sport in 1999 - just two years after the agency was set up to transform British sport's fortunes with National Lottery money.

Ten years later, having seen Team GB climb to fourth in the medal table at the 2008 Olympics in Beijing, she became chief operating officer, before being appointed chief executive in 2010.

The high point of her time in charge, when she was often referred to as the most powerful woman in British sport, came at Rio 2016 when Team GB and Paralympics GB finished second in their medal tables, having both been third at London 2012.

In 1996, the last Games before UK Sport came onto the scene, Team GB finished 36th in the Atlanta medal table, with one gold medal.

The search for the 66-year-old's replacement starts almost immediately but she is expected to remain in post for at least six months to ensure a smooth transition. Her successor will take over by next summer, giving them a full year before Tokyo 2020.

In a statement, Nicholl said: "It's been a huge privilege to work with so many committed and talented athletes, coaches, leaders, partners and colleagues during my time at UK Sport.

"Our athletes are undoubtedly among the very best prepared and supported in the world and I am confident we can continue to build on the successes of recent Games.

"Tokyo 2020 performance is on track and preparation for the Games environment in Japan is being expertly led and supported by the British Olympic Association and British Paralympic Association.

"This really is the best job in sport and I have enjoyed every minute of it. I am confident it will attract some great applicants and my successor will find British sport in a good position to realise our vision of inspiring the nation in Tokyo and beyond."

UK Sport's chair, Dame Katherine Grainger, said: "I cannot thank Liz enough for everything she has done for British sport in her time here.

"We must never forget the transformation that has occurred under her guidance nor take for granted how many people, myself included, who have been able to realise their potential because of her tireless work."

While UK Sport, which dishes out more than £100 million of lottery and government money to athletes, sports and support staff every year, has undoubtedly enjoyed remarkable successes in terms of medals, recent years have seen a spate of stories that have taken some of the sheen of the agency's reputation.

Allegations of bullying, "climates of fear" and other failings in sport's duty of care to athletes and coaches dominated the post-Rio period, with UK Sport forced to make sweeping changes to how it monitors sports and cares for people in the system better.

There have also been numerous complaints about the 'no compromise' funding model championed by Nicholl, with many critics saying it is unfair on team sports, does not take a sport's participation numbers into account and has led to an unhealthy obsession with medals.

Nicholl, however, has been repeatedly backed by sports ministers, the BOA and BPA, as well as the many sports that have turned UK Sport's generous funding into Olympic and Paralympic success. British athletes have even started to enjoy more consistent success at the Winter Games.

Nicholl received an MBE for services to netball in 2000, an OBE for services to sport in 2005 and a CBE for services to sport in 2015.