Lloyd joined Chalvey as manager for the start of the 2016/17 season.
He brought a good deal of managerial experience from his time with Burnham and Chalfont St Peter.
Young told his club`s website: “It is with regret that first-team manager Merv Lloyd had stepped down from his position. I would like to thank Merv for his hard work over the last few seasons.
“Merv has been in charge for three seasons and was instrumental in the successive league championship wins. We all wish Merv further successes going forwards and wish him well for the future.”
Steve Quelch and Lawrence Richardson will be in charge of the first-team for the rest of the season.
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