Aberdeen chairman Stewart Milne to be replaced by Dave Cormack

Stewart Milne has resigned from the function of Aberdeen chairman to be substituted by US-based businessman and current vice-chairman Dave Cormack.
The move comes as a part of investment and astrategic partnership the US Major League Soccer Club, with Atlanta United.
Construction tycoon Milne will leave following the clubs December AGM along with Aberdeen Chief Executive Duncan Fraser and directors Duncan Skinner Ian Jack and Craig Brown.
On the announcement, Milne declared Cormack to succeed him after 22 years at the helm.
Milne stated:For four decades, we have been working on a series plan. It has been no easy job to locate the individual whos prepared to take on the onerous job of chairman, together with responsibility for the financial health and development of the golf club.
In attracting Dave (Cormack) on the Board and then devoting him vice-chairman, we viewed him as the natural successor.
He participates on both counts. He is well ready to undertake the commitment and has proved his ability to secure new investment that is substantial. Importantly, he is passionate about Aberdeen and the team.
Considering June 2017, Cormack has given #11.2m of fresh investment, including #1.4m for its Aberdeen FC Community Trust, and, on taking control, he will front a farther #5m of investment which will provide operating capital for the club day-to-day surgeries.
With recent conclusion of a 12m training ground, together with industrial operation and football, Milne believes its the moment.
He added:I have always said Id relinquish the reins when the perfect opportunity arose and I think that time has now come. I am proud to have had the opportunity to direct the club that I love for over two years.
Weve been at a consistently healthier position for several decades now and I am happy to be able to hand the club to secure hands at the knowledge that were debt-free and also have more than doubled earnings from approximately #7.8m at 2013 to nearly #16m now.
Atlanta United are owned by billionaire Arthur Blank, whos also the owner of the Atlanta Falcons in the NFL with the newest investment coming from Cormack and his team of shareholders, including Tom Crotty, Roger Lee and now AMB Sports & Entertainment (parent firm of Atlanta United).
The latter, Entertainment and AMB Sports, spend 2m into the club, and will require around 10 percent stake in Aberdeen.

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