Coventry City Football Club released a statement following the resignation of its chairman Ken Dulieu earlier today and can be read at
http://www.ccfc.co.uk/page/NewsDetail/0,,10269~2534762,00.html
Sisu representative on the board Onye Igwe said, "Ken's efforts over these challenging few months cannot be overstated. He has led the Board through a difficult period and through his leadership, the Board has put in place a structure that the Club can build on.
"Through Ken's efforts, there have been significant improvements. We have seen the integration of the Academy and the first team. Player contract extensions with flexible terms have been put in place, and the
ultimate value of our squad has risen.
"The Club is now more prepared for the implementation of the Football League's financial fair play regulations, through the reduction of losses which Ken has achieved."
Mr Dulieu said, "Throughout the past 8 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.
"It was essential for the long-term health of the Club that the right business controls and discipline were put in place. When I arrived, this Club was hemorrhaging cash. Through the revised structure and
processes that we have implemented, I am pleased to say that this situation has now been greatly improved.
"I do believe that with these changes, together with the continued essential investment of the owner and support of the fans and local community the Club can look towards a more stable future."
Mr Igwe continued "As we enter the next stage of the turnaround plan and, in particular, as we need to engage fully with our local community and stakeholders, Ken and I both feel it is best for the Club to be led on a day to day basis by an executive who can physically spend
more time in the City and take a more hands on approach.
"To that end, 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.
"I would like to take this opportunity, on behalf of the Board, to thank Ken for his work as Chairman. Away from his formal duties at board level, Ken can better focus on working closely with the manager, coaches and the Academy team to further develop the Club's on-field
potential.
"I am delighted that he is staying with the Club in this capacity and feel the new structure will give us the best opportunity to face the tests of the coming months."
Mr Dulieu concluded: "I understand that on first reading some people may wonder why I have taken this decision. To our supporters, I say that right now my time and effort is best spent working with Andy Thorn and his team.
"In particular with the January transfer window approaching its best for me to focus on how we can help Andy, and not be distracted by other off field matters.
"My role as Chairman was always to devise and implement a plan by which the Club could veer away from the dangerous course it was on and I believe we have made great strides. Moving forward I am not the best person to deliver the next stage of the plan, that is best done by a strengthened local executive team. In the mean time I and my fellow board members will do our utmost to help steer this Club to a safe league position and financial stability."