CARLTON has announced that president Mark LoGiudice will officially step down from the role at the end of 2021, ending an eight-year term at the helm of the Blues.
The club determined at Monday night's board meeting that LoGiudice, who has been serving on the board at Ikon Park for the last 12 years and has been president for the last eight, would be replaced by president-elect Luke Sayers.
"My duties as president will continue for the remainder of the year, in which during this period I will commence an official handover to Luke," LoGiudice said in a statement on Wednesday.
"Our members have entrusted me as president of their football club over the last eight years, that is a responsibility I have never taken for granted and I thank each and every one of them for their support.
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"I always will be and am forever grateful for the privilege to serve the club over the last 12 years."
LoGiudice oversaw significant off-field improvements throughout his time as president, with the club now debt-free for the first time since 1996, having a record membership base and in the initial stages of Ikon Park's redevelopment.
However, the men's side has made finals just once throughout his tenure and is currently struggling with a 2-4 record on the season after an indifferent start to the current campaign.
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Sayers, who will begin his term in 2022, has been a director at the club since 2012. He is the executive chairman of investment and advisory company Sayers and has previously held the role as CEO of PriceWaterhouseCoopers.