Browning will stand down due to the code requiring an independent chair to be appointed, with the official having also made the decision to withdraw his candidacy for the position as he believed a “new leader” was required.

He became chairman in February when succeeding Bob Howden, but will now return to his previous role as a non-executive director on the British Cycling board.

Browning will be up for re-election on March 31, with the potential of serving a further two terms.

Having taken up the post when British Cycling was at the centre of a UK Sport investigation into their practices, Browning claims the organisation has been stabilised under his leadership.

He had admitted in March that British Cycling had "failed" athletes on its world-class performance programme after allegations of sexism and bullying within the organisation led to an independent review.

The UK Sport review was launched after complaints of sexism were made by Jess Varnish last year relating to comments made by former technical director Shane Sutton.

The review concluded in June that some athletes had complained of a “lack of encouragement or support”, while staff members referred to a “culture of fear in the organisation".

“When I stepped into the role of chair in February, British Cycling was in the depths of a crisis, facing severe reputational damage and there was an absence of strong, visible leadership,” Browning said.

“It was clear to me that we needed to very quickly stabilise the organisation and put in place a comprehensive plan to rapidly introduce major changes to the World Class Programme and to our leadership, operations and governance which were in need of immediate reform and repair.

“Over the past nine months, we have done exactly that. “

Browning cited plans being in place to address every recommendation outlined by the review, as well as the approval of changes to comply with the Code for Sports Governance as evidence the organisation was moving forward.

He also highlighted the arrival of new medical services staff and structures, new grievance, whistleblowing and athlete representation processes have been implemented.

The appointment of Julie Harrington as British Cycling chief executive and Stephen Park as performance director were hailed by Browning, as he stated they were “strong new leaders” for the organisation.

“When I look back over the period that I have been chair, I am immensely proud of what has been achieved and feel confident about the position that British Cycling is now in,” Browning said.

“Despite coming a long way, there is still more to do.

“I have a passion to see through the transformation that we started, and have been encouraged by others to continue this work, which is why I put myself forward as a candidate for the role of independent chair.

“However as I went through the process, it became clearer to me that British Cycling would benefit from a new leader to see it through the next stage of its development, particularly as British Cycling re-shapes its relationships with its public funding partners.

“I remain as committed as ever to ensuring that British Cycling continues to move in the right direction and at a pace faster than any other national governing body.

“The new chair can be assured of my continuing support in this endeavour.”