Ospreys’ holding company appoints non-exec FD :: 18 May 12:09


Llandarcy Park (Ospreys) Ltd, the holding company of Ospreys Rugby, has appointed Steve Maddock as a non-executive Finance Director.

Recently retired as Director, Financial Shared Services, with Tata Steel Europe, he will bring more than 35 years of business finance experience to the LPOL board.

The appointment comes after a full review of LPOL’s corporate governance structure and follows a short period where Mr Maddock assisted the board on a consultancy basis.

A ‘Big-4’ trained Chartered Accountant, Mr Maddock started out at Deloittes and, after qualifying, moved to Coopers & Lybrand, now PricewaterhouseCoopers.

He joined European Profiles as Finance Director in 1987, and following its acquisition by British Steel seven years later he remained within the multi-national organisation, working in a number of senior roles and Directorships with responsibilities across multiple territories before taking up his final post with Tata Steel Europe in 2007.

Always a keen sports fan, he also held a number of different roles at Neath RFC during the nineties including the post of Treasurer, helping to oversee the transitional period between the amateur and professional eras of the game.

Speaking about his appointment, Mr Maddock commented:

“I’m absolutely thrilled to be taking up this post and look forward to assisting the board of directors achieve their aims for the business. The Ospreys have long led the way in Wales, on and off the field, and the work that has been done behind the scenes over the last two to three years to stabilise the business in a very difficult climate has been admirable.

“With that stable platform from which to operate now in place, Ospreys Rugby is well placed to push on. There remain a number of significant challenges to tackle but there is every reason to be optimistic about the future of the business. The progress that has been made already, combined with the board’s commitment to ensuring the Ospreys remain ahead of the game and the long-term, strategic thinking within the organisation means that this is an exciting time to formalise my involvement.”

Roger Blyth, Chairman, LPOL, said:

“The appointment of Steve, with his knowledge, experience and reputation, will only enhance our organisation as we strive to continue the excellent work already undertaken to turnaround the business from its perilous position three years ago into what is now a sustainable business with a bright future.

“Although we have seen a huge improvement in financial performance while continuing to remain competitive on the field, as evidenced by our current position as the only Welsh side involved in the PRO12 play-offs, it is vital that we don’t become complacent.

“Any successful business is constantly evaluating performance and identifying ways in which it can improve, which is something we have been doing over the last few months. Historically there has been a lack of clarity in roles and responsibilities, which has, on occasions, led to governance issues.

“Steve’s appointment as Financial Director of Llandarcy Park (Ospreys) Ltd has come about following our recent strategic review and I’m delighted to welcome him formally to the organisation. He will assist and advise the board as we look to continue pushing forward and doing what is best for the long-term future of rugby in this region.”