Barry Russell has announced he will resign as CEO of the Cronulla Sharks - but will ensure the club is salary cap compliant before leaving.
Russell has overseen a turbulent 12 months as Sharks boss.
His self-reporting of salary cap discrepancies in June last year resulted in an NRL investigation that finally ended last week with Cronulla receiving a $750,000 fine. The Sharks will also have to play $350,000 under their salary cap for the 2019 and 2020 seasons.
But it was Russell's decision to self report matters that saw the NRL reduce Cronulla's fine to $250,000.
His decision to self report also inadvertently cost Cronulla their premiership-winning coach Shane Flanagan, with he and the club found to have been communicating during his 2014 ban for his role in the Sharks' ASADA scandal.
Flanagan's deregistration has been continued indefinitely.
The Sharks were originally fined $800,000 for communicating with Flanagan, which was also reduced to $500,000 because of the club's eventual acceptance and acknowledgement of their wrongdoing.
Russell plans to leave the Sharks in early April.
"It has been a very tough 12 months, both for the club and for me personally," Russell said in a statement.
"As you are aware, there have been several challenges we have had to face and resolve, particularly concerning integrity, governance, finances, personnel and structural change within the business.
"When I made the decision to self-report a salary cap discrepancy last year with the full approval of the board, I most certainly did not foresee all the issues that were to follow.
"As hard as it has been I did however remain committed to seeing the club through these challenging times and set a new course of proper governance and integrity.
"I’m proud that I’ve been able to clean this mess up and give the club every chance of success.
"We are now through this very difficult period and I believe the time is right for the club to have a fresh start and be taken forward in a new direction. A new CEO will have the opportunity to start with a clean slate, alongside our talented new head coach John Morris, and build the best structure possible to lead the club forward without any negative remnants from the past 12 months."
Russell had also helped the Sharks secure a front of jersey sponsor, with Mortdale company Ace Gutters signing a two-year deal with the club.
Russell, who won the Rothmans Medal as a 23-year-old in 1988, started as CEO in March last year after former CEO Lyall Gorman left the Sharks to join Manly.
He was one of the best players to wear the black, white and blue No.7 jersey having come through Cronulla’s junior system, playing in the same Jersey Flegg side as Andrew Ettingshausen and Jonathan Docking.
After making his first grade debut in 1985, Russell missed the entire following season after he underwent the first of two shoulder reconstructions. He played 76 first grade games for Cronulla over six years before going on to coach the Sharks at junior representative level.
"I’m so proud of what I have achieved over the last year and see this as a real turning point for the club. It breaks my heart to walk away from a club that has done so much for me and I have a great love for," Russell said.
"This has been my greatest honour. I will always operate with the club’s best interests at heart and I know this is best for our club and myself.
"My love for and loyalty to the Sharks remains forever strong and I want nothing but its long-term success. The Sharks will be a powerful force during the 2019 season and well into the future.
"I would like to thank the board, my wonderful staff, our awesome playing group, loyal members and fans for the role they have played in what has been an unforgettable journey carrying out my dream job. It just didn’t end the way I had imagined!
"Lastly, thank you to my wife Jodie and family for their unconditional love and support. I could not have done the last year without you."
Sharks chairman Dino Mezzatesta denied the club's board had forced Russell to stand down.
“Barry acknowledged it has been an extremely tough 12 months for both the club and for him personally," he said.
"However, the board appreciates his efforts working with us to navigate through recent issues, to where we are now in a strong position on and off the field and can look towards a positive future.
“It was not our choice to have Barry move on but we understand his reasoning, thank him for his service during a difficult time and wish him well in his future endeavours.”
