EXPLAINED: The reasons behind management shake-up at the Sharks
REACTION: The shake-up of the Sharks' management structures has been described as 'game-changing' by owner Marco Masotti.
Masotti confirmed that the Sharks' Chief Executive Officer Eduard Coetzee will be relocated to MVM's London office in July.
MVM Holdings, an international investment consortium spearheaded by Masotti, obtained a 51 percent majority stake in the Sharks back in January 2021.
The KwaZulu-Natal Rugby Union and a Pay TV channel hold the remaining 49 percent of the franchise.
The financial terms of the transaction remain confidential.
Masotti, a Durban-born-and-bred New York-based lawyer, told @rugby365com that they had been planning the management changes "for a while".
"We have two grown-ups on the ground," the owner said.
"They are Shaun Bryans, a [Sharks board member and] business person who works with me, as well as Vincent Mai [American businessman and philanthropist, who was born and grew up, in South Africa].
"We recently hired Mike Leslie," Masotti added.
"Mike is our new Chief Brand Officer," he said, adding: "You may have noticed his impact on our social media.
"It is game-changing in my view."
Masotti said they will not rush into finding a replacement for Coetzee.
"We are in the process of looking for the right person, who shares our vision to be our next CEO," he told @rugby365com.
"I would like a youngish, high-energy business person.
"The business side of our business is going well but we can get it to the next level."
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Coetzee said he is 'privileged' that MVM offered him a new role in their structures.
"This role will ensure I am still involved in the Sharks structures, but now I will be based in Europe," he told @rugby365com.
"It is a massive opportunity for me and my family," he Coetzee said, adding that he will take up his new position on August 1.
From his London base, Coetzee will assist the Sharks with European sponsors, while growing the Sharks' relationship closely with Saracens, the English Premiership club, where Masotti's MVM also has a big interest.
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