NZRU chair offers to quit over collapse - Sports News - Fanatics - the world's biggest events

NZRU chair offers to quit over collapse

21/03/2010 07:03:18 AM Comments (0)

New Zealand Rugby Union (NZRU) chairman Jock Hobbs offered to resign last week over the collapse of his former company Strategic Finance.

The offer was made at the NZRU board meeting but was immediately rejected, the Sunday Star Times reported.

Strategic Finance went into receivership on March 12 owing its 13,000 investors about $NZ325 million ($A252 million).

Hobbs was a director at the company and a former chief executive and shareholder.

The former All Black told the newspaper he had been "honour bound" to make the offer.

"If you don't have the confidence of the board, then you should go immediately."

Hobbs also serves as chairman of Rugby New Zealand 2011, the company tasked with managing the World Cup in New Zealand next year, and said he would offer to step down from that role when the board met next month.

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