Read, who was a founder for Own the Podium in 2004, was the first Canadian to win a World Cup alpine ski race in 1975.
Read plans to continue to be on the International Ski Federation (FIS) executive board. Ken's son Erik is currently a rising force on the Canadian alpine skiing scene.
Own the Podium's mandate is to prioritize and determine investment strategies to national sports organizations, so elite Canadian athletes are able to perform at a high level at the Olympic Games and Paralympic Games.
Own the Podium Chief Executive Officer Anne Merklinger, who was an elite Canadian curler and participated for Ontario at three Scott Tournament of Hearts, will take over from Read until a successor is found.
Read's decision comes one year before the 2014 Olympic Winter Games in Sochi.