Motaung gave credit to the team's fans whens reflecting on Amakhosi's journey, which has yielded a record 68 major trophies.
"We had to take some tough decisions over the years,” Motaung told the club's website.
“Crucial during those testing times was that we could always rely on our supporters to be with us, also when some of the founding fathers left. The journey continued and the baton was passed over to those who took over the journey, which helped us to move forward.
“I would like to express my sincere gratitude to those who have been part of this journey and for their contribution past and present. We look forward to the challenges facing us.
“We now need to reinforce the pillars that have been established and commit to the continued evolution of the club. Thank God, we are blessed to be part of this incredible journey of Kaizer Chiefs,” concluded the 73-year-old.
Chiefs are looking to avoid a hat-trick of seasons without silverware under coach Steve Komphela, having bolstered their arsenal this transfer window with the signings of Siphelele Ntshangase, Kabelo Mahlasela and Leonardo Castro, and promotion of youngster Siphosakhe Ntiya-Ntiya.
The Glamour Boys, with 23 points from 16 games, are five points behind log leaders Mamelodi Sundowns after opening 2018 with a goalless draw against SuperSport United at Mbombela Stadium on Saturday.