News24
- Rugby Australia boss Andy Marinos stepped down.
- His departure comes a week after the governing body announced it had returned the business to profit for the first time in four years.
- Marinos resigns four months before the Rugby World Cup in France.
Rugby Australia (RA) boss Andy Marinos resigned on Monday four months out from the World Cup in France, saying it was time to move on after returning the organisation to profit.
The Zimbabwe-born 50-year-old was appointed chief executive in late 2020 after five years running the southern hemisphere governing body SANZAAR.
His departure comes a week after the governing body announced it had returned the business to profit for the first time in four years.
Marinos was widely seen as instrumental in helping revive the once cash-strapped organisation.
“The foundations have been established and the business is now well-prepared to test the market for private equity investment, making it the right time for me to move on,” said Marinos in a statement.
“Importantly, I will leave with the knowledge that RA is in a stronger position than when I joined, and proud of what has been achieved in my tenure as CEO.”
Australia has been mulling following New Zealand Rugby’s lead and seeking private equity investment to shore up the game’s finances further.
US private equity firm Silver Lake secured a NZ$200 million (US$134 million) stake in the famed All Blacks last year.
Local media said Wallaby great and RA board member Phil Waugh was a frontrunner to take over, with Marinos to remain until mid-June to assist with the transition.
RA chairperson Hamish McLennan said Marinos had helped re-establish rugby union as a sport to be reckoned with in a crowded landscape of rugby league, Australian Rules, cricket and football.
“We asked Andy to draw upon his impressive career experience and extensive global relationships to re-establish rugby as a leading code in Australia,” he said.
“He has delivered on this and been fundamental in the turnaround of the business.”
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest For Top Stories News Click Here
