The 69-year-old has revealed that he will resign from his position in the near future, signaling the end of an era at San Siro.
The 69-year-old had come under fire in recent months following the Rossoneri's disappointing start to the season and a number of reports had already suggested that he was ready to throw in the towel after falling out with board member Barbara Berlusconi, daughter of club owner Silvio.
Galliani has now confirmed that he will indeed resign, although he has voiced his frustration with the way things have gone in the past few weeks.
"I will resign in the next few days, probably after the match against Ajax," Galliani told reporters on Friday. "I will leave the club either with or without compensation.
"I understand that there comes a moment where it's time for change, but not like this. My reputation has been damaged. This should have been treated a bit more delicately. I don't know yet how my future will look like. I will take some time off first and then I will make a decision."
Galliani has been Milan CEO since 1986 and saw the San Siro giant win five European Cups during his tenure, as well as eight Serie A titles.