Lindsay Tanner has tonight announced his intention to stand down as Essendon President in the latter stages of 2020.

Tanner informed the Board of his decision ahead of the club’s Annual General Meeting at Marvel Stadium.

Due to an increasing number of external corporate Board commitments, as well as his advisory role to financial asset management firm Lazard, Tanner said the time was right to step down from the presidency, but intends to remain a member of the Board.

“It would be remiss of me not to firstly acknowledge our loyal members and supporters. Their commitment to this football club is unrivalled and we will forever be united in our passion for the red and black,” Tanner said.

“This has been a difficult decision, but I have recently had to consider my own position as President of the Essendon Football Club. I am fortunate to be involved with many corporate organisations and there are opportunities that have presented themselves for next year that are timely to pursue.

“It has been an honour for me to be appointed to serve on this Board as President but ultimately, the timing will be right to hand over the presidency in the latter part of next year.

“The club is in a strong off-field position – our club is now cash positive, we have reduced our debt and construction has commenced on the second phase of the expansion at The Hangar in Tullamarine, which is predicted to complete in line for our 150th year anniversary celebrations.

“Our football program has been strengthened over the recent off-season with a number of key appointments and I look forward to leading the club for what shapes as an exciting 2020 season.”

Previously the Club’s No.1 ticket holder from 2009-2010, Tanner then joined the Essendon Board of Directors in 2015. He assumed Presidency later that year, replacing Paul Little AO and has led the Club over the past four years.

Tanner was MP for Melbourne in the Australian Parliament from 1993 to 2010 and Finance Minister from 2007 to 2010.

Tanner is also currently a Board member for Virgin International Australia and Suncorp, and chairs the Mitchell Institute for Health and Education Research.