He joined initially as general manager but was made joint chairman under a new regime last month.
In a statement, Whitcut said: “I am stepping down from my role at the Bradford Bulls after conversations with the governing body of the Rugby Football League.
“Although I am disappointed, I am confident that the new team I brought together will help the club move forward and take it back to where it belongs as an industry leader.”
Whitcut’s departure leaves Mark Moore in place as chairman alongside board members Ian Watt, Andrew Calvert and chief executive Robbie Hunter-Paul.
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