MADRID -- Fernando Martin has resigned as Real Madrid president after losing a vote of confidence at a board meeting on Wednesday.
"The board have voted unanimously to call for a presidential election," club spokesmen Enrique Sanchez told a news conference.
"They have accepted the resignation of Martin so that he can stand in those elections."
Director Luis Gomez-Montejano will take over as president until elections can be held.
It was Martin's first full board meeting since succeeding Florentino Perez, who stepped down at the end of February.
He has faced mounting pressure to call a presidential election from inside and outside the club in recent weeks, although the club statutes gave him a mandate until 2008.
Real, third in the Primera Liga, will end the campaign without a trophy for the third successive season, its worst run in more than 50 years.