Cronulla chief executive Barry Russell has quit the role after a turbulent year at the embattled NRL club.
Russell had been the subject of persistent speculation that he will stand down after seeing the Sharks through the NRL investigation into their salary cap irregularities.
The CEO self-reported the club’s salary cap breaches to the NRL, which ultimately led to Cronulla being fined $1.25 million ($500,000 of which was suspended), hit with a $707,000 salary cap penalty and forcing the exit of coach Shane Flanagan.
Russell will stay at the club until early April, aiming to leave once the Sharks are salary cap compliant for the 2019 season.
“As you are aware, there have been several challenges we have had to face and resolve, particularly concerning integrity, governance, finances, personnel and structural change within the business,” Russell said in a statement.
“When I made the decision to self-report a salary cap discrepancy last year with the full approval of the board, I most certainly did not foresee all the issues that were to follow.
“I’m proud that I’ve been able to clean this mess up and give the club every chance of success.”
Russell had only taken on the role from Lyall Gorman in early February last year.
Shortly after taking over, the former Sharks playmaker self-reported salary cap issues which are the subject of an NRL integrity unit investigation.
That decision ultimately led to Flanagan’s downfall and deregistration after the NRL found evidence he communicated with club officials via email in 2014, in contravention of his 12-month ban for his part in the club’s peptides scandal.
“It breaks my heart to walk away from a club that has done so much for me and I have a great love for,” Russell said.
“This has been my greatest honour … my love for and loyalty to the Sharks remains forever strong and I want nothing but its long-term success.
“The Sharks will be a powerful force during the 2019 season and well into the future.”
Russell said he was hopeful a new CEO would have the opportunity to start with a “clean slate” alongside recently appointed head coach John Morris.
The full club statement from Russell reads as follows;
“It is with great sadness that I inform Cronulla Sharks Members, fans and Corporate Partners that I have made the decision to resign from my role as Cronulla Sharks Group CEO.
“I will depart the Club early April after ensuring we are Salary Cap compliant for the 2019 season.
“It has been a very tough 12 months, both for the Club and for me personally. As you are aware, there have been several challenges we have had to face and resolve, particularly concerning integrity, governance, finances, personnel and structural change within the business.
“When I made the decision to self-report a salary cap discrepancy last year with the full approval of the Board, I most certainly did not foresee all the issues that were to follow.
“As hard as it has been I did however remain committed to seeing the Club through these challenging times and set a new course of proper Governance and Integrity.
“I’m proud that I’ve been able to clean this mess up and give the Club every chance of success.
“We are now through this very difficult period and I believe the time is right for the Club to have a fresh start and be taken forward in a new direction.
“A new CEO will have the opportunity to start with a clean slate, alongside our talented new Head Coach John Morris, and build the best structure possible to lead the Club forward without any negative remnants from the past 12 months.
I’m so proud of what I have achieved over the last year and see this as a real turning point for the Club. It breaks my heart to walk away from a Club that has done so much for me and I have a great love for.
“This has been my greatest honour. I will always operate with the Club’s best interests at heart and I know this is best for our Club and myself.
“My love for and loyalty to the Sharks remains forever strong and I want nothing but its long-term success. The Sharks will be a powerful force during the 2019 season and well into the future.
“I would like to thank the Board, my wonderful staff, our awesome playing group, loyal members and fans for the role they have played in what has been an unforgettable journey carrying out my dream job.
“It just didn’t end the way I had imagined!
“Lastly, thank you to my wife Jodie and family for their unconditional love and support. I could not have done the last year without you.
“Thank you”
Sam
Guest
Indeed. The NRL just announced a $42M profit, I'd like to see a million or two of that spent on a deep audit of the books of every single club......won't happen though.
john
Guest
It'd be interesting if each team got their own "Barry Russell Makeover" I wonder how many would be spotless.
Peter Piper
Guest
Board members, players and fans are likely to have blamed him for the fines and the sacking of flanagan. I suspect that he has had to put up with a tremendous amount of brown sticky stuff even though he was right to do what he did. Good luck Russ you can at least walk out of there with your head held high.
mudchooks
Roar Rookie
Can’t blame him for wanting to abandon ship.. the current board and new CEO will sink with it.
Oto shark
Guest
Yes, not sure what's going on there. The nrl was happy with Barry and that saved us a fine ,but hope the board isn't getting rid of him because he's too straight or else well be in the same mess for similar stuff later on down the track ,and then the sponsors will definitely be done with us for a very long time . Also the nrl we're in talks for expansion or relocation ,we should get our act together fast ,we had all that money from the development and we still lost money ,it's a huge worry for mine.lets hope the bad Ines have left and deno can fix it from here.
Nat
Roar Guru
Yeah possibly. If he did make the call based on his skill set (or lack there of) at rebuilding the club, cudos to him. Not many high-profile corporates would acknowledge that deficiency. Reports, for what they're worth, are he doesn't have the best relationship with the board so there maybe something in that. Otherwise, he may just have another offer in the wings that doesn't come with the public scrutiny.
Emcie
Roar Guru
I'd say his exit might have a bit to do with the feelings of others on the board. More of a ammicable breakup before it gets ugly kind of thing.
John
Guest
"I just don’t get the feeling ALL the bad bits are gone at the Sharkies." It's be cited that Barry was on the nose with some of the Board members. It's not a stretch to say those on the Board that opposed what Barry did, should probably follow Barry out the door if the Sharks are to purge ALL the bad bits.
Roost 66
Roar Rookie
All's not well in the Shire
Paul
Roar Guru
You're a tough judge Nat. There will obviously be conjecture about why he hasn't stayed, but perhaps it's because he realizes he doesn't have the skills to rebuild the Club, or perhaps his Board backing might be tad tenuous. All he can do is get rid of the bad bits and hope the Club finds someone capable of rebuilding. I just don't get the feeling ALL the bad bits are gone at the Sharkies.
Nat
Roar Guru
Ol' Barry 'the broom' Russell hey! While I respect what he has done but this "leave the new CEO with a clean slate..." is a fallacy. Millions in debt, fines and and cap restrictions is about as muddy as the next CEO can walk into. Anyone can destroy the house, rebuilding it are where the credits are earned. #finishthejobbarry