All
As you may know, Vodafone have agreed to sponsor DCT for a further three years to the extent of €10,000 each year. This is great news for the Club and we are delighted to have such a prestigious sponsor continue their relationship with us. Going forward we have entered into a Sponsorship Agreement with Vodafone and an unfortunate unforeseen (at least by me!) consequence of this is that this contract creates a conflict of interest for Vodafone because I am Chairperson of Piranha but also connected to Vodafone through my wife Anne, who is CEO of Vodafone in Ireland.
Per their strict corporate governance rules, Vodafone cannot enter into a contract with another party to pay money where there is deemed to be a conflict of interest and although considerable effort has been made to find a solution, it transpires that there is no alternative other than my stepping down as chairperson.
I very much regret that I am obliged to resign after such a short time and would like to thank the club for granting me the opportunity of being chairperson of such a great organization and also thank the committee who I have really enjoyed working with and who I now fully appreciate do tremendous work behind the scenes on behalf of the Club.
Further post to follow outlining process for appointing interim chairperson.
Regards
Nick
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