Sequoia Capital said on Monday that Roelof Botha will take over the firm's global leadership role, assuming the title of Senior Steward on July 5.

Botha, a seasoned investor, would continue to supervise the company's US and European operations as managing partner, according to Sequoia.  

Sequoia's other regional divisions will be managed by the firm's local managing partners, with Neil Shen continuing to head Sequoia's operations in China.  

Botha succeeds Doug Leone, who will continue to represent Sequoia on the boards of portfolio companies and remain a general partner in its existing funds.

Sequoia has established itself as one of the world's top venture capital firms since its founding by Don Valentine in 1972.

Leone took over from Valentine as senior steward in 1997 alongside venture capitalist Michael Moritz. Moritz dropped his administrative duties in 2012 when Leone became the firm's sole leader.