The entire Wests Tigers board has been dismissed in a stunning move following a bombshell internal review.
Chairman Lee Hagipantelis and chief executive Justin Pascoe have both departed, with the latter reportedly offering his resignation on Tuesday according to The Daily Telegraph.
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Hagipantelis held his role as chairman for four years.
His legal firm, Brydens Lawyers is also the Tigers’ major sponsor and pays around $1 million a season for a spot on the front of the jersey.
His shock departure comes after it was reported last week that there are concerns Brydens Lawyers may not renew its deal as a major sponsor if Hagipantelis is no longer involved with the club.
It means the Tigers could be forced to hunt for a new sponsor.
Hagipantelis had no say in his future because only the club’s shareholders — the Holman Barnes Group, Wests Magpies and Balmain Tigers — have the power to make the changes.
And according to News Corp rugby league journalist Brent Read, Hagipantelis didn’t exactly take the removal well.
“Needless to say, Lee wasn’t overly happy when I spoke to him this afternoon,” Read told Fox Sports News.
“We’ll wait to see his reaction to all of this. He’s a pretty important figure, he’s a guy that loves the footy team, he’s been the face of the club for the last four years or so.
“He’s always fronted up, Lee. So to suggest he was upset and a bit disappointed with his removal goes without saying.”
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The Tigers had a board meeting scheduled for Tuesday night but it is understood it has been delayed by 24 hours to complete legal documents and allow the club to get its new leadership structure in place, according to The Daily Telegraph.
The board cleanout follows an independent review that was ordered by the Holman Barnes Group and undertaken by former NRL chief financial officer Tony Crawford and Gary Barnier, the managing director of Benchmarking Matters and Cooperage Capital.
Former NSW premier Barry O’Farrell will become the interim chairman and ex-Rabbitohs chief executive Shane Richardson will replace Pascoe.
Interim O’Farrell will return for his second stint as chair. He was appointed to the role four years ago but departed after less than 12 months due to other commitments.
The interim board will go from seven members to four and it will be made up of representatives from each of the club’s shareholders. Dave Gilbert will represent the Holman Barnes Group and Danny Stapleton will represent Balmain, while Wests are yet to confirm their nomination.
“We all share one goal – to see the Wests Tigers again become a real force in the NRL on and off the field,” Stapleton said via the Sydney Morning Herald.
The Tigers have collected back-to-back wooden spoons, with rookie coach Benji Marshall leading the side into 2024.
The Tigers released a statement regarding the changes on Tuesday afternoon.
TIGERS CLUB STATEMENT: CHANGE IN LEADERSHIP
Wests Tigers shareholders have today announced major changes to the management of the club following an independent governance and culture review.
It also follows the resignation of Chief Executive Officer Justin Pascoe who believes the review marks the right time for the club to make a fresh start.
Wests Tigers are grateful for Justin’s leadership and believe he will be successful in his future endeavours.
Holman Barnes Group Chairman Tony Andreacchio said the shareholders have accepted the recommendations of the review to appoint an interim Chairman and interim Chief Executive Officer to take the club forward.
The Wests Magpies and the Balmain Tigers said they fully support the refresh aimed at delivering long-term success for the club.
Mr Andreacchio said the key changes were:
Former Premier Barry O’Farrell will be interim Chairman. Mr O’Farrell was previously Wests Tigers Chairman in 2019 before taking up a role as High Commissioner to India.
Shane Richardson will be interim Chief Executive Officer. Mr Richardson has more than 30 years’ experience in club management. He was previously CEO of the Penrith Panthers from 2002-2004 with the club winning the Premiership in 2003. He was also the CEO of the South Sydney Rabbitohs from 2004 to 2015, with the club winning the Premiership in 2014.
A new interim Board has been appointed to oversee the implementation of the review recommendations.
The Board has been reduced from seven members to four members for the interim phase. The interim Board will be comprised of Mr O’Farrell (Chairman), and a representative of each of the three Wests Tigers shareholders – David Gilbert (Holman Barnes Group), Danny Stapleton (Balmain Tigers Chairman) and a nomination from the Wests Magpies.
The changes are subject to legal approvals.
Mr O’Farrell and Mr Richardson will take up their roles in the new year and oversee the transition to a new, seven director Board (comprising four independent directors, including the Chair and a representative from each of the Wests Tigers shareholders). They will also implement further recommendations from the review to set the club up for long-term success.
Mr Andreacchio said the appointments would give the Wests Tigers the strong and experienced leadership that the club needs at this time.
“We are determined to be successful for our members and fans and that process begins in the front office,” he said.
Mr Andreacchio thanked the outgoing Chairman Lee Hagipantelis and CEO Justin Pascoe for their dedication and hard work for the Wests Tigers.
“Lee and Justin faced enormous challenges, but they have left a legacy which gives us a strong base for the future,” he said.
“In particular, they leave us with a world class Centre of Excellence and the club is in a stronger financial position because of the relationships they established with sponsors and other supporters.”
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Mr Andreacchio said the final report of independent review of the club, by former NRL CFO Tony Crawford and businessman Gary Barnier, was submitted to Holman Barnes Group last week.
He said Holman Barnes Group believed it was important to move quickly to accept the key recommendation to appoint a new leadership team without delay. The new team will then be able to implement the other recommendations from the review.
“But one thing is clear – this club is determined to provide the leadership required to be successful in the NRL.”
Danny Stapleton, Chairman of the Balmain Tigers (shareholder of the Wests Tigers) said it was significant that all shareholders were united in supporting the changes.
“We all share one goal – to see the Wests Tigers again become a real force in the NRL on and off the field,” he said.
Dennis Burgess, Wests Magpies Chairman (shareholder of the Wests Tigers), said the Magpies fully endorsed the review’s recommendations because they are key to the Wests Tigers future success.
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