Bould signed for Arsenal as a player in 1988, joining from Stoke City and going on to win three league titles, becoming part of the club’s famed back-four alongside the likes of Lee Dixon, Nigel Winterburn and Tony Adams.
After his retirement, Bould went into coaching, leading the U18s to FA Youth Cup glory in 2009, before becoming assistant manager to Arsene Wenger following Pat Rice’s retirement in 2012.
“Steve has been a fantastic servant for us on and off the pitch,” Arsenal academy manager Per Mertesacker said in a statement. “His record as a player speaks for itself and he has been an inspiration to generations of young players coming through the academy.
“This has been a very hard decision to make. Steve’s contribution to the under-23s and the club as a whole has been huge and he will always be an important figure in our history.”