Brazilian club Santos FC announced on Friday the appointment of Neymar's father and agent, Neymar Sr., as the club's new CEO.
Neymar Sr. has been heavily involved in managing his son's career and is the founder of NR Sports, the agency that owns the rights to the Santos forward's name and image.
Santos currently sit ninth in the Brazilian Serie A standings, having collected 47 points from 34 matches.
"We have been working daily to find solutions and alternatives to improve Santos's situation and strengthen our management," Teixeira said in a statement.
"The arrival of Neymar Sr. as the new CEO represents one more step in this process. I am confident that, with his experience and knowledge, we will be able to move forward even further and, together, build an ever-stronger club."
Neymar, who previously played for Barcelona and Paris Saint-Germain, returned to his boyhood club Santos in 2025. He remains Brazil's all-time leading goalscorer, with 80 goals in 130 international appearances.
The forward was part of Brazil's squad for this year's World Cup in North America. However, in late July, he said he no longer wished to represent the national team, weeks after suggesting his international career was over following Brazil's last-16 defeat to Norway.