ADELAIDE co-captain Taylor Walker has relinquished the captaincy of the Crows.

The 29-year-old led the club from 2015-18 before sharing the role with midfielder Rory Sloane this year.

Walker's decision to step aside is the first major development at the Crows since an external review into the club's operations was announced.

Hawthorn great Jason Dunstall and Fremantle champion Matthew Pavlich are part of the four-person external review panel.

Walker – who has played 189 games for the Crows since debuting in 2008 – said the time was right to step aside.

"It has been a great privilege to lead this club for the last five years, through some great times and some very sad and challenging times," Walker told the club's website.

"It has made me realise what's really important in my life - family, mateship and making the most of the time we have in the game we all love.

"The role has helped me grow, mature, learn and seek to understand others’ views, but most of all, I've enjoyed the challenge of leading this football club." 

Crows coach Don Pyke said he respected Walker’s reasons for stepping down.

"From the day I arrived, Taylor has been a great leader who has helped and inspired his team mates, coaches and staff," Pyke said. 

"He has also been a tremendous support to me as senior coach and not only shown genuine care for all of those inside the club, but also the wider community with some of his charity work. 

"He will continue to offer advice and play a key role in developing our next generation of leaders, and I look forward to seeing what more he can achieve on-field." 

Walker is contracted to the Crows until the end of 2021.

Find AFL Exchange on Apple Podcasts, Google Podcasts and Spotify.