Collingwood have been rocked by the sudden resignation of billionaire vice-president Alex Waislitz.
Just months after Eddie McGuire was forced to step down as president, Waislitz announced on Tuesday night that he was also quitting the club's board.
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“It’s been an honour to have served the club for more than two decades and I’m pleased to be leaving the board at time when we are in strong financial position,” Waislitz said.
“Collingwood is now in a period of renewal and it’s appropriate that I make way for that process to continue.
“I wish Mark (Korda) and the team continued success and I am happy to assist in any way I can.”
The founder and CEO of Thorney Investment Group, Waislitz and McGuire served together on the Collingwood board for 22 years.
The 63-year-old will be replaced by Dr Bridie O’Donnell, a former professional road cyclist, while Paul Licuria and Jodie Sizer have also been promoted to vice-presidents.
Licuria played 182 games for Collingwood and was a two-time best and fairest winner at the club.
Board upheaval on the cards at Collingwood
Waislitz' resignation comes as pressure continues to mount on new president Mark Korda, who took over from McGuire last month.
Jeff Browne - the AFL’s long-time legal adviser - is believed to be gunning for Korda's seat.
“So the board rumblings are really happening and of course a huge chance there of a board being overturned," Channel 7 reporter Mark Stevens said on Tuesday night.
"Jeff Browne waiting in the wings.”
Collingwood moved to dismiss rumours of unrest, saying six of its seven directors have been on the board for five years or less and the recent changes mean “progressive change and renewal at board level” is continuing.
“My strong view is that in the 21st century the Collingwood board ought to reflect a greater gender balance, cultural diversity and a younger profile as well as the critical skills required to run a large and prominent sporting business,” Korda said.
Club great Tony Shaw has called for the board dispute to be settled so coach Nathan Buckley can make a call on his future.
“What if there’s a board challenge and they (the Korda board) get put out and the new board aren’t backing Buckley, what do you do then? It’s a horrible position,” Shaw told the Herald Sun.
“We are talking about someone’s career as a coach and still Jeff hasn’t come out and said, ‘I want the job’.
"So we need Jeff and whoever else he’s got behind the scenes to come out right now - not two or three weeks down the track - and then get together with Korda, because the coach decision is a massive decision.
“You can’t just have a board come in and say, ‘No, we didn’t want Nathan Buckley’. What are you going to do, pay a bloke two years of contract and say, ‘We didn’t want you?’
"It’s just ridiculous, so the board decision has to be settled before they make a decision on Nathan.”
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