Granovskaia has effectively run Chelsea for Roman Abramovich for almost a decade but will leave her role as part of a major shake-up at Stamford Bridge.
The 47-year-old is the latest big-name exit after Chelsea announced on Monday that Bruce Buck is also standing down as chairman after 19 years.
Granovskaia was expected to leave Chelsea after Abramovich put the club up for sale, but initially it was hoped she would remain in situ until the end of the transfer window during a handover process following the Todd Boehly takeover.
The Russian-Canadian executive has worked at Chelsea since 2010 and has been considered the most powerful person at the club after Abramovich.
Granovskaia has looked after transfers and player contracts since 2013. Boehly and manager Thomas Tuchel will now take on transfer negotiations, with the former also becoming interim sporting director as well as Chelsea’s new chairman until a full-time successor to Granovskaia is found.
Last year Granovskaia was named as the best club director in European football at the Golden Boy awards, underlining her importance to the club.
Losing her expertise, experience, influence and contacts represents a blow to Tuchel as Chelsea embark on a crucial summer transfer window for the club, though the club have confirmed that she will “remain available to Boehly and the Club for the duration of the current transfer window, to the extent required to support the transition”.
Chelsea face a tough summer and are playing catch up in the transfer market as they bid to overhaul their squad to challenge Manchester City and Liverpool next season.