We have a new Chairman!

13 June 2002

After nearly two whole days of negotiations spent trying to reach a compromise in the battle for control of West Bromwich Albion - and failing - Directors Barry Hurst and Clive Stapleton have resigned from the Board with immediate effect. Jeremy Peace has been appointed Executive Chairman with immediate effect, and will be looking to bring in new Directors as well as attending to the preparations for next season.

An official statement from the new Chairman reads:

"I have taken on an enormously important task and I look forward the challenge. It is critical that we consolidate on our recent football and commercial success and move forward with a strategy that unites our fans, customers, employees and shareholders."

"A top priority will of course be to succeed in the Premiership and all necessary steps will be taken to achieve this objective. Our first task is to secure the services of Gary Megson, the Team Manager, on a new contract, and to begin strengthening the playing squad."

"Both the PLC and Football Club boards will also be strengthened in due course and there will be an early and thorough review of our operations aimed at improving the club and the business at every level."

On standing down, Clive Stapleton issued the following statement:

"With effect from 5pm both Barry Hurst and myself will cease to be directors of West Bromwich Albion football Club, having decided to step down in order to save the club the pain of an EGM, although we both remain deeply concerned about the circumstances in which the club finds itself and for its future."

"Following a meeting with Jeremy Peace and Joe Brandrick yesterday, we were shown irrevocable undertakings in favour of the resolution from approximately 13% of shareholders to add to nearly 30% which Jeremy holds as Kappa. Those undertakings make an EGM almost impossible to win."

"I have focused entirely on football matters since I became Acting Chairman on May 20th 2002, while also trying to broker a compromise in order to avoid the EGM. During that time when I believed we were looking for compromise, my former colleagues on the board have been out canvassing support from shareholders to the point where they have 13% of irrevocable support."

"The main area of Jeremy's support comes from Mr Joe Brandrick and Mr Tony Hale. I believe Mr Hale should have no part in the club and should have abstained from any EGM vote but instead has pledged his loyalty to Mr Peace. Let us hope that we do not end up in the same mess we were in the last time Mr Brandrick and Mr Hale attempted to take this club forward - losing ?30,000 per week and heading for Division Two. Can you judge a man by his supporters?"

"All of this occurred while we attempted to broker a compromise to avoid the EGM, making Jeremy Chairman with immediate effect and in return allowing myself and Barry to leave the board with some dignity since the political situation has now made our departure inevitable. After more than a week spent considering that compromise, it was rejected and we were both asked to resign immediately."

"I have been offered a Vice Presidency which I have refused since it would be hypocritical of me to accept. Free tickets are not of interest to me. I have always paid my way. My dignity holds far more value to me and my family than anything anyone at the club could ever offer me. Unfortunately I have been forced out of the door rather than being accorded the dignity that I feel my years of hard work and commitment in the service of this club deserves."

"This particular argument has never been about protecting the position of myself or Barry, but about the best interests of the club and the motives behind the calling of the EGM."

"There has been lots of speculation as to why I could not support Jeremy Peace when he wanted to take the Chair on May 20th 2002. With the best interests of the club at heart, I feel I must put those reasons on record."

"As a result of an irretrievable breakdown in the relationship between Paul Thompson and Gary Megson, Paul Thompson informed the board of his decision to stand down as Chairman, and then as director. That led to the emergence of Jeremy Peace's desire to take the Chair, a surprising development given that a few days earlier, no-one had expressed any desire to take that position."

"This dramatic change and his obvious burning desire to become Chairman at almost any cost, along with his secret meetings with Gary Megson meant that my trust in him had been undermined and that I had no option, in my position as a director, but to withhold support at that point."

"As a result, the majority of the board, excluding Paul Thompson, asked if I would take the role of Acting Chairman while a new Chairman was sought. Because of these developments and his obvious disappointment at being denied the Chair, a press release, obviously prepared in advance, was put in front of the board, calling for an EGM to remove myself and Barry Hurst as directors. Barry and I have more than 20 years of accumulated experience at the club and we were stunned to be presented with the resolution for our removal simply because Jeremy could not accept a democratic vote."

"In my subsequent role as Acting Chairman, with the full support of the staff, I have attempted to prepare this club for the Premiership. During an amicable meeting with Gary Megson, all areas of concern were discussed and addressed successfully. His transfer targets were confirmed and we have worked to bring them in at a time of year when, due to holidays, and the World Cup, there is little activity in the market. I expect that to change by early July here and elsewhere."

"As far as particular players are concerned, we believe we are very close to agreeing a deal with one player who Gary is very interested in. I had also prepared a written offer for another player high on Gary's list but was prevented from doing so because of a lack of support from the board. Gary is especially keen on this player and I know through conversations with his agent that he would be extremely happy to join this club at a very exciting time in its history. I urge the new Chairman and board to firmly place themselves behind this club record ?2.5million bid."

"Following the appointment of Paul Thompson and the appointment of myself and Barry Hurst as directors in December 1999, a plan was discussed for the furtherment of the club, taking in the building of the new East Stand, a new training ground and improvement, year by year on the pitch. In the intervening 30 months, we have exceeded those expectations on and off the pitch. The Hawthorns is a stadium to be proud of and anyone viewing the training ground at the Aston University site with its ten playing areas could not help but be impressed and hopefully Premier League finance will enable the club to develop it further."

"The playing side has exceeded all expectations. We appointed Gary Megson in March 2000 and has become the best manager outside the Premiership and hopefully will prove to be one of the very best in the Premier League next season. His potential at his interview and his desire to succeed was there for all present to see and matched our own ambitions. I couldn't be any happier that he has proved so successful."

"The question on everyone's lips, including my own, is what happens to West Bromwich Albion next? Jeremy Peace has said that he agrees with 99% of the board's policies since he joined less than two years ago and that he wishes to unite the club. Unfortunately, he has chosen revolution rather than evolution with the exception of Mr Brandrick who has played a major part in securing the votes of longstanding shareholders. Jeremy Peace's efforts to unite the board has led to the dismissal, so far, of 2/5 of the PLC board and 1/3 of the Football Club board. How much more uniting can the club take? Will more directors be asked to stand down? What new directors will be put in place? Will the executives be replaced? For one who agrees with 99% of the outgoing board's policy, I can only hope that he sticks to his promise that the successful formula that we have come up is not too easily thrown away."

"Let us hope that in his haste, Mr Peace can convene a board better constituted than that which Tony Hale hastily assembled in 1999 before its inevitable replacement."

"Finally, I would like to thank all those supporters and shareholders who have contacted me over the last few weeks and years and have supported me while doing what is a very hard job. My time here has been tough on occasion, but it has always been a pleasure and a privilege to serve a club that has been one of the most important things in my whole life."

"I hope that anyone else who joins the board understands that privilege and understands the needs and desires of all Albion supporters."

Previous Stories:

  30 May 2002:  Board hope to avoid EGM

  30 May 2002:  Shareholders look for compromise

  27 May 2002:  Hopes for settlement?

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