This comes after a number of changes to the Blues hierarchy under new owners The Friedkin Group which sees several key staff members leave and replaced as the club looks towards the future. Thelwell dealt with two points deductions and three relegation battles amid ownership and boardroom crises but has steered the club away in what has been a busy few years.
Now, under returning manager David Moyes they look to be in a safer position as they try to avoid relegation. Thelwell is set to leave the club in the summer, when his contract is due to expire and released a statement to supporters on Friday thanking them for their constant support.
"Dear Evertonians. I would like to start by saying what a privilege it has been to serve as director of football for the past three years. This is an incredible club with so many good people working for it and supporting it. I am proud to have been given the opportunity to work here.
"Despite the difficulties we have faced over this period I have loved every minute of it, even in the most challenging of these times. Clearly, we have had some tough obstacles to overcome, and it has not been what any of us would have hoped for or wanted for our club.
"With a backdrop of PSR commissions, points deductions, relegation fights, takeover attempts and a financial reality that necessitated tough decisions on player transfers and significantly reduced team investment, it has not been easy to keep our heads above water and retain our Premier League status. Navigating the last three years, whilst building a magnificent new stadium, hopefully provides some pride for you and gives everyone associated with our club and the city the opportunity to look forward to a brighter future.
"I feel that I leave with the club in a much better place than when I arrived, both on the pitch and off it. Being consistently outspent by every team in the league has not been easy but it was a necessity to ensure the survival of our club - and that is something that I’ve always been honest and open about. My goal has always been to manage with the multiple immediate challenges, without jeopardising the long-term future of the club. As a result, we are in a much stronger financial position, and I am excited about where we are on the pitch.”
He spoke more about the future of the club and his achievements before thanking Moyes who he hopes will lead Everton to glory in the near future.
"Finally, I would like to thank David and his coaching team for an excellent job so far – long may it continue! Also, thank you to the dedicated staff at Finch Farm who have worked so hard and sacrificed so much to keep the wheels turning, and to TFG who we all hope will take the club back to where it belongs! And last but certainly not least, I would like to thank you. Every Evertonian has played as significant a part as anybody at the club during what has been the toughest and most uncertain of times. The unstinting backing for the players and staff at Goodison, and on the road, has been humbling and amazing to see every week. I am eternally grateful to have seen and felt your support and passion.
"Thank you again for that support, and best wishes for the future. Kev."