COVENTRY City chairman Ken Dulieu has stepped from the club’s board of directors after leading a programme of financial rehabilitation.
Mr Dulieu is not severing his ties with the Championship club altogether as he is moving into the role of head of football operations.
Coventry City FC has been battling spiralling debts and earlier this year Mr Dulieu said it needed to buy the Ricoh Arena to be successful.
The stadium is jointly owned by Coventry City Council and the Alan Edwards Higgs Charity with the club paying rent to play there, meaning it does not benefit from the arena’s concerts and events.
Mr Dulieu said: “Throughout the past eight months, I have been faced with a number of challenges and I am pleased to say that, through the design and implementation of the first stages of a long term turnaround plan which I was brought in to deliver, we have seen some major changes in the way the club conducts its business.
“When I arrived, this club was haemorrhaging cash. Through the revised structure and processes that we have implemented, I am pleased to say that this situation has now been greatly improved.”
Board member Onye Igwe added: “I and the rest of the board agree the time is right to further strengthen our executive team with locally based directors.
“We have now started the process of identifying the right candidates who can help implement the next stage of the turnaround plan which Ken has put in place.”
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