Sharks boss Barry Russell quits in wake of salary cap sanctions

In another blow for the Cronulla Sharks, dedicated CEO Barry Russell will finish on April 1 - just 13-months after taking on the lead role with the best intentions.

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Cronulla have begun the search for a new chief executive and will also appoint a general manager of football under a new leadership structure, following the resignation of CEO Barry Russell.

In yet another body blow for the Sharks, Russell will finish on April 1 - just 13 months after taking on the lead role with the best intentions.

Having persuaded Russell to remain in charge after initially offering his resignation last November, the Cronulla board reluctantly accepted his decision on Tuesday.

Cronulla Sharks CEO Barry Russell has announced his resignation. Picture: Brett Costello

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Russell spoke to the entire Sharks playing group prior to his decision being made public.

The huge physical and mental toll of his decision to self-report the club’s salary cap issues, the exit of premiership-winning coach Shane Flanagan, coupled with the dearth of sponsors and subsequent financial challenges, were the overwhelming reasons behind Russell’s decision.

Hugely passionate and dedicated to the club he first played for as a teenager, Russell said he leaves the Sharks with a heavy heart.

“It has been a very tough 12 months, both for the club and for me personally,’’ Russell said.

“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.

Cronulla Sharks CEO Barry Russell and the club's new head coach John Morris... Russell will leave the club to give it a fresh start. Picture: AAP

“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.’’

The Sharks board will begin the search for Russell’s replacement in earnest.

Russell was also the acting Leagues Club CEO, following the recent departure of Tim McAleer.

It’s anticipated the club will look to appoint a Group CEO, who can oversee both the football and leagues club sides of the business.

A GM of football, who acts as a conduit to head coach John Morris and the CEO, will also be assessed by the club as it reviews its leadership model.

“It has been an extremely tough 12 months for both the club and for Barry personally,’’ Cronulla chairman Dino Mezzatesta 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.

“The Sharks Board of Directors will now work towards finding a suitable replacement.’’