Andy Marinos, the CEO of Rugby Australia, resigned on Monday, four months before the World Cup in France, saying it was time to move on after bringing the organization to profitability.
After five years as CEO of the Southern Hemisphere governing body SANZAAR, the 50-year-old Zimbabwean was appointed CEO in late 2020.
His retirement comes just a week after the governing board reported that the company had earned a profit for the first time in four years.
Marinos was largely regarded as having played a key role in reviving the once-struggling organization.
“The foundations have been established and the business is now well-prepared to test the market for private equity investment, making it the right time for me to move on,” said Marinos in a statement.
“Importantly, I will leave with the knowledge that RA is in a stronger position than when I joined, and proud of what has been achieved in my tenure as CEO.”
Australia has considered following New Zealand Rugby’s lead and pursuing private equity funding to help strengthen the game’s finances.
Last year, US private equity firm Silver Lake acquired a NZ$200 million (US$134 million) stake in the legendary All Blacks.
According to local media, Wallaby great and RA board member Phil Waugh is the frontrunner to take charge, with Marinos staying until mid-June to help with the changeover.
Marinos, according to RA chairman Hamish McLennan, helped re-establish rugby union as a sport to be reckoned with in a cluttered scene that included rugby league, Australian Rules, cricket, and football.
“We asked Andy to draw upon his impressive career experience and extensive global relationships to re-establish rugby as a leading code in Australia,” he said.
“He has delivered on this and been fundamental in the turnaround of the business.”
