Karren Brady and David Sullivan set to leave Birmingham
Wednesday 16 September 2009
Birmingham chief executive Karren Brady and PLC chairman David Sullivan will leave the club if Hong Kong businessman Carson Yeung completes his takeover of the club.
The pair confirmed their intentions this morning, and will end 16-year associations with Birmingham providing the deal goes through.
Yeung has formally lodged his bid for Birmingham after sending out official documents to shareholders offering £1 per share.
His company, Grandtop International Holdings, already owns 29.9% of the club and, with co-owners Sullivan and the Gold brothers, David and Ralph, having indicated they will sell their 50% stake, Yeung is already well on the way to taking complete control.
The first closing date of the offer is October 6.
Brady, who has accepted a television role on The Apprentice, said: "It was a hard decision for me to make to leave the club after so long but, with the new change in ownership, I feel the time will be right for me to move on and pursue my other ventures.
"Grandtop have asked me to retain my position as CEO but I honestly feel they must be allowed to stamp their own mark on the club and I believe that this is best done without the current board looking over their shoulder."
Although David Gold is set to stay on as chairman, Brady believes the time is right for her to depart.
She added: "I leave with very fond memories of the past 16 years; I arrived with David Sullivan in 1993 and I want to leave with him. Whatever he does in the future, you can rest assured I'll be standing by his side."
Sullivan could be on the look-out for a club to invest in, once he leaves Birmingham.
He said: "I intend to remain in football, so following the takeover I will be looking for a new challenge where my experience, my success and sound business acumen will make a difference."
Latest in Sport
Mayweather-Pacquiao: Ricky Hatton, Mike Tyson, Ronda Rousey and more make their predictions
Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
How Liverpool can catch Manchester United and still qualify for the Champions League
Kyle Walker video: Tottenham defender categorically denies 'disgusting' rumours on Facebook
Floyd Mayweather vs Manny Pacquiao: What time does it start and where can I watch it?
- 1 Avengers: Age of Ultron: Nearly 700 German cinemas refuse to show movie
- 2 Donald Trump decides that Baltimore riots are Barack Obama's fault
- 3 X Factor in crisis as numbers of people auditioning plummets
- 4 General Election 2015: Stephen Hawking says he will vote Labour
- 5 Baltimore riots: Furious mother marches her son home live on TV
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
EU exit would hit UK economy much harder than neighbouring countries, study finds
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia