Prominent owner and breeder B. Wayne Hughes has resigned from the Breeders’ Cup Ltd. board of directors with five months remaining on his term.

A Breeders’ Cup statement said Hughes will focus on other business interests.

The founder and chairman of Public Storage, Hughes had been a member of the board since it was streamlined to 13 members in 2006. He previously was part of the larger panel now known as the Breeders’ Cup board of members and trustees. His term on both boards was set to expire in June.

“Since I began serving on the Breeders’ Cup board in 2006, we have undergone a series of changes and innovations, and I am proud to have played a role in helping chart a new course for the organization,” Hughes said in the statement.

Hughes owns Spendthrift Farm in Lexington. A Spendthrift representative said Hughes was unavailable for comment while he travels out of the country,

“We will miss Wayne’s passion for the industry, his business acumen and candor, and we are very grateful for his service to the Breeders’ Cup,” Chairman Bill Farish said.

The Breeders’ Cup board will choose a replacement for Hughes on January 20 from the Breeders’ Cup board of members and trustees to serve out the remainder of his term. Members and trustees usually are responsible for electing representatives to the smaller board that oversees the company’s day-to-day operations.