WIN Corporation have advised the St George Illawarra Dragons that they no longer wish to continue discussions regarding acquiring the Illawarra Steelers 50 per cent equity, but will maintain their significant sponsorship and association with the club.
The Dragons are now actively pursuing other options and alternatives with a number of other interested parties who expressed interest during the period that discussions were being held with WIN Corporation.
The Dragons board remains committed to ensuring they identify the right partner for the long-term, and are confident that the 50 per cent sale will be completed this year.
Succession Planning
Succession planning and transition continues, despite the continued considerations in respect to the overall governance of the Dragons through impending changes in shareholding.
With respect to the replacement for Chief Executive Officer Peter Doust, who will retire at the end of the season, a 'Nominations Committee' of the Dragons board has been formed to select a professional and experienced search company to assist with the management of this process.
The committee is presently meeting with external recruitment agencies to determine the most appropriate partner to lead the search – the initial step for identifying the appropriate replacement.
The 'Nominations Committee', in conjunction with the external recruitment agency, will then provide a recommendation to the full Dragons board once the process is complete.
Furthermore, changes to the Dragons' Board of Directors have occurred recently with former chairman Warren Lockwood retiring. Lockwood stepped down as chairman midway through last year but remained on the Dragons board.
The St George District Rugby League Football Club board determined that Lockwood's role and place on the Dragons board will be filled by Chairman of St George District Rugby League Football Club, Craig Young.
Craig brings a wealth of rugby league knowledge and experience to the Dragons board as a player, coach and administrator across all levels of the game – local, club, state and national.
Craig has previously had a respected career in the New South Wales Police Force before successfully owning and managing a number of hotels in the Wollongong area.
Craig joins John Brannon, who replaced Bob Millward as a Steelers nominee to the board of the Dragons at the end of last year, as two new directors of the St George Illawarra Dragons board in 2018.
John has extensive management experience, is a company director and chairman who works across government, commercial and not for profit boards in industries including finance, sports administration, mining, ports, tourism and education.
