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Pratt stands down

Pratt stands down
Jun
20
3 0

Written by AFL Online on 20th Jun 2008

Richard Pratt has today stepped down as President of the Carlton Football Club, effective immediately. Pratt himself decided it was best to step down as President in order to fight the criminal charges that were laid on him for allegedly lying to the ACCC over his knowledge of the price fixing scandal.

Pratt, who earned his billionaire status as head of the cardboard manufacturer Visy, could face a maximum of 4 years in prison from 4 different charges with penalties ranging from a $2,200 fine to 12 months’ prison.

Speaking at a Carlton press conference today Carlton CEO Greg Swann confirmed the news but stated it is only a temporary messure.

“He is to stand aside until this latest matter with the ACCC is resolved,” he said today.

“Richard’s decision to stand aside from his position is obviously a disappointing development for Carlton, which acknowledges the outstanding contribution he has made.”

As a result to his immediate departure Carlton legend Stephen Kernahan will assume the role of Interim President.

“Richard has been truly fantastic for the Carlton Football Club for more than 50 years. We appreciate him putting the Club’s interests to the fore, as he has always done,” Kernahan said.

“I have no doubt that Richard will continue to support the Club he has so ably served and we do hope Richard returns as President as soon as possible.”