HAWTHORN has refuted reports chief executive Tracey Gaudry was sacked on Sunday night, saying the former Olympic cyclist stood down for personal reasons. 

The Hawks unveiled Gaudry in an expansive media conference in May, making her the first woman to run an AFL club in an ongoing capacity, but she departs just five months later.

Fairfax Media reported earlier on Monday the 48-year-old was fired after negative feedback from Hawthorn officials and football department staff.

Board member and commercial lawyer Peter Nankivell will serve as interim CEO in Gaudry's stead.

Hawks president Richard Garvey said in a statement Gaudry had "faced extenuating family and personal circumstances" that made it "difficult" for her to continue.

"On behalf of all at Hawthorn, I want to thank Tracey for her considerable contribution to our club in the relatively short time she has been our CEO," Garvey said.

"We understand and respect her decision to stand down.

"Tracey has been incredibly selfless and professional throughout this process and the club wishes her and her family all the best in their future endeavours."

Garvey said at the announcement of Gaudry's appointment that his club had to "innovate" and "refresh" to remain at the top.

It was a tumultuous day at Waverley Park, with Damian Barrett revealing on NAB AFL Trade Radio that 1971 premiership player and life member Bruce Stevenson had also resigned from the board.

Gaudry had no football industry experience when she replaced Stuart Fox in charge, leaving her post as Athletics Australia's general manager of commercial and growth to accept the AFL club job.

She remains vice-president of cycling's world governing body and is a contributor to the International Olympic Committee on gender inclusion.

Fox spent seven years at the Hawks before leaving in December last year to become the Melbourne Cricket Club's new chief executive.

Tim Silvers previously served as Hawthorn's interim CEO as the club undertook an exhaustive process to replace Fox, and applied for the position Gaudry eventually won.

One of Gaudry's priorities was to secure the Hawks an AFL Women's licence, but she was unsuccessful in that goal.

League officials announced last week the AFLW will expand to a 14-team competition by 2020, and Hawthorn is yet to find out when its application will be reconsidered.

The Hawks are one of three AFL clubs searching for a new chief executive, with Collingwood and the Western Bulldogs also in the market.

Gary Pert quit in July after a decade as the Magpies' CEO, while Gary Kent wrote to the Bulldogs board in June to issue his preference for someone else to hold the role next year.

Former AFL football operations boss Simon Lethlean has already emerged as a contender for the Collingwood role, but may now be in the Hawthorn mix.

Lethlean resigned from the AFL in July, along with fellow executive Richard Simkiss, after reports surfaced of separate "inappropriate relationships" with female co-workers.

Lethlean played 40 games for the Hawks' reserves in 1994 and 1995.