It’s taken well over a week when the fans were told 48 hours, but Everton have finally announced the components of their new interim Board with the big news that much-reviled Club Chairman Bill Kenwright will be staying on, for now at least.
With Chief Executive Officer Denise Barrett-Baxendale, Chief Finance and Strategy Officer Grant Ingles and Non-Executive Director Graeme Sharp all leaving there have been vacancies in key areas behind the scenes and today’s statement addresses those areas.
Chief Stadium Development Officer Colin Chong, who has been charged with the construction and delivery of the new Everton Stadium will be taking over as interim Chief Executive Officer and Director.
James Maryniak, the Director of Finance, becomes the acting Chief Financial Officer while there are two non-Executive members also added to the Board. Majority shareholder Farhad Moshiri will also be joining the Board in what appears to be an interim capacity along with businessman and accountant John Spellman.
Sources close to the MSP Sports Capital investment bid seemed to indicate a consortium of 13 investors have raised £130 million which is about a third of the £350 million required to complete the new stadium. It is expected that MSP will also have a say in appointing the new chairman while also getting two seats or more on the new Board.
The Everton announcement included some words from 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.
“In John, we have an experienced finance professional who has held Chief Executive and senior finance roles for international firms and I welcome him to the Club.
“In Colin and James, we have two experienced senior Club professionals who have agreed to take on enhanced roles on an interim basis, and who we know can and will deliver immediately.”
While quite less than ideal with Kenwright staying on, this does appear to be a step in the right direction for the club even though the new investment doesn’t necessarily alter the club’s profit and loss statement nor does it guarantee any transfer funds for the summer transfer window where reinforcements are sorely needed.