Following the departures of the current board of directors Denise Barrett-Baxendale, Grant Ingles and Graeme Sharp, Everton have finally announced the interim board of directors and executive officers.
On 12th June, Everton released a statement confirming changes to the board of directors. Barrett-Baxendale left her post of Chief Executive Officer, Grant Ingles left his role of Chief Finance and Strategy Officer and Graeme Sharp left the responsibility of being the Non-executive director of the club. A decision over the future of chairman Bill Kenwright was expected in 48 hours but the Toffees broke the deadline and remained silent for over 10 days.
EFC have finally provided clarity on the interim board appointments and addressed the future of chairman Kenwright. EFC are set to enter a period of transition as MSP Sports Capital are set to invest in Everton. The New York based investment company have formed a new company MSP EFC Investors LC, have raised £130.2 million, from a pool of 13 investors.
Everton appoints interim board members as MSP investment nears
Everton owner Farhad Moshiri has been seeking an investment to fund the Bramley-Moore Dock and was ready to dilute his 94% stake in the club. MSP are likely to acquire a minority stake in the club and have discussed boardroom changes. The changes are finally taking place as an interim board has been appointed ahead of the investment completion.
Everton released a statement that confirmed the appointments of interim management roles. Colin Chong will become Everton’s interim Chief Executive Officer. Chong currently is the Chief Stadium Development Officer and is focused on delivering the state of the art Bramley-Moore Dock stadium.
James Maryniak will take charge as the Chief Financial Officer. In addition, two new non-executive directors have joined the club board. Moshiri has decided to join the board alongside John Spellman who is a businessman and a Chartered Accountant. Finally, there is some clarity over Kenwright’s position. In the period of transition, the 77 year old will continue as the Everton chairman upon special request by owner Moshiri.
"I wanted Bill to remain as our Chairman during this important period of transition for the Club and I am delighted that he has accepted my request to do so. Bill’s knowledge and vast experience will be crucial for us as we look to reset, deliver on external investment and position Everton for a successful future."
Have EFC made the right choice by keeping Bill Kenwright as the interim chairman?