Two non-executive directors of Llandarcy Park (Ospreys) Ltd, the holding company of Ospreys Rugby, have announced that they are to stand down from the Board after three years service.
Debra Williams, a former Managing Director of Confused.com, and Tyrone Davies, the Chief Financial Officer of Creditsafe, have today (Wednesday February 18th) announced their decision to relinquish their position with immediate effect.
Both individuals remain shareholders in the region having invested at the same time as their appointments in 2012.
They were recruited as non-executive directors to act in an advisory capacity at a time when the business was facing significant financial and political challenges. Their specific areas of professional expertise allowed them to both play a part in the successful turnaround of the business over the last three years.
The most recent accounts show that the business has turned an annual loss of almost £1.9 million in 2012 to an operating loss of just £6,000 in 2014, with a small surplus forecast for 2015.
Roger Blyth, Chairman, LPOL, said:
“We are extremely grateful to both Debra and Tyrone for their efforts over the last three years which have helped us towards our short-term aim of stabilising the business at a difficult time, as well as making real strides towards the long-term goal of being a sustainable, successful rugby business.
“Their business acumen has been a welcome addition to the board and, as part of the wider team, they have played their part in ensuring the improved off-field performance of Ospreys Rugby. Although they are standing down from office, I am in no doubt that both of them will continue to be regulars at the Liberty Stadium on a match day, supporting a cause that they have made big contributions to already.”
Debra Williams said:
“We were brought in at a time of turmoil in Welsh Rugby and we feel we made a significant contribution to resolving some of what were very deep rooted problems and turning things around.
“The region is back on its feet financially and some of the wider problems in the game have been solved. That said, there remains much to be done in Welsh rugby.
“It is with sadness that I leave a region I have given so much to for the past three years. I have met some fantastic people during what has been a rollercoaster journey ride at times but it is time to move on and let others continue to progress the business forward. I remain a loyal supporter of Ospreys both on and off the field.”
Tyrone Davies said:
“We feel that we have contributed to taking the region in the right direction but it is now time for us to hand the reins onto others with the time available to focus on this on a full time basis. I am a fan and want success for the Ospreys on and off the field.
“But we hope that the region continues to move towards being run as a professional and sustainable business for the sake of rugby at all levels in the region.”