COLIN Carter will stand down as Geelong president next month, to be replaced by respected Melbourne businessman and fellow Cats director Craig Drummond.
Carter, a former AFL commissioner, has been Geelong president since 2010, when he replaced Frank Costa.
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Drummond, a lifelong Cats fan, is CEO of Medibank Private, which has a market capitalisation of $8 billion. He has had a long career as one of Australia's most senior bankers.
In his 10 years in charge of Geelong, Carter helped entrench the Cats as one of the AFL's best run clubs.
In a statement released later on Wednesday, the club confirmed Carter would step down at the Cats' annual general meeting on January 28 next year.
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"It's easy to be proud of an organisation that has so many great people and that has been so successful," Carter said in a statement.
"This is a successful organisation and I’m pleased that we have built on this. In particular, I thank the members for their support. This year our members and philanthropic donors stood behind the club in a period where the impact of COVID could have set us back a decade. What they have done for the club was wonderful.
"Stick with us, we are still striving to enjoy the ultimate success again!"