The former Bradford Northern half-back, who has enjoyed 45 years in the game as a player, coach and administrator, was appointed when Marc Green took control of the club in March 2014, six months before the Bulls’ relegation from Super League.
The announcement comes just eight days after Bradford failed to finish in the top four of the Championship, thereby missing out on the chance of regaining their Super League spot for another year.
Ferres, who enjoyed notable success as an administrator at York City Knights, also serving as chief executive at Wakefield Trinity Wildcats and Castleford Tigers, is set to retire, according to Green.
“It is with considerable sadness I must announce the resignation of Steve Ferres as managing director from the club,” Green said.
“Steve has agreed to conduct a full and proper handover to his successor of which the process of finding one starts immediately.
“Steve has worked tirelessly to rebuild Bradford Bulls. I for one have been grateful for the time we have worked together and found Steve to be a man of honour and integrity.
“Steve had advised me of his intention to retire from the game of rugby at the end of the season, although he obviously hoped it would be under more enjoyable circumstances.
“He also cited as one of his reasons for bringing the decision forward the failure to make the play-offs and the need for change. As someone who has always led, not followed, he feels change has to start at the top and this further fuelled his decision.
“I hope he enjoys retirement and I for one wish him and his family well.”