ST KILDA’s off-field revolution will take another significant step on Wednesday afternoon, with Andrew Bassat set to be officially unveiled as the club’s new president.

As foxfooty.com.au reported on Wednesday morning, the co-founder and CEO of SEEK will succeed Peter Summers after a transition process that culminates at the club’s annual general meeting in December.

As the Herald Sun reported on Friday, the club board ratified the changeover earlier than expected on August 23.

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Finals Week 1

Summers said Bassat had his strongest possible endorsement and was unanimously elected by the board after a thorough succession planning process.

“Andrew is a person of great integrity and character, and his business acumen is matched only by his passion for the Saints,” Summers said.

“He was a great addition to the board in 2017 and will be a strong leader of our club.”

It is understood Bassat is still chasing Nick Riewoldt to be the club’s football director.

Tuesday’s announcement will bring a close to Summers’ term a year before it was due to end.

The decision to appoint Bassat is hardly a shock and comes unchallenged. Born in 1966, the old Brighton Grammarian joined the Saints board in late July, 2016.

St Kilda president Peter Summers has stepped down. Source: News Corp Australia

He co-founded SEEK alongside his brother Paul in 1997 after Paul’s struggles in searching for a home. It was publicly listed in 2005. Paul is now an AFL commissioner.

The company’s market cap is now worth $7.8 billion and Bassat owns 14 million shares worth approximately $22 each.

Summers took over from Greg Westaway at the end of 2013 at a previously tumultuous period for the club in which the senior coach was sacked and the CEO also changed from Michael Nettlefold to Matt Finnis.

Bassat said he was eager to take on the role after a life-long connection to the Saints.

“I am honoured and excited by this opportunity,” he said.

“I have been a passionate Saints supporter from my early childhood and am highly motivated by the opportunity to play a role to help the club achieve both short and long-term success,” he said.

“Having been born in 1966, I, like so many of our loyal supporters, have never witnessed a Saints’ premiership and the ultimate goal of myself and everyone else involved with the Club is to bring home our second flag.”

“However, we have a lot of hard work to do first. As a club, we need to focus on addressing a disappointing 2018 season. We must learn from it, and ensure we make the right decisions to put us back on the path to success.

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“That begins with earning the right to play finals football and repaying the faith our supporters have shown in us.

“It is a tough competition and now more than ever we need every single St Kilda member and supporter to stick with us in order for us start heading back in the right direction.

Since then, the Saints have been transparent in their rebuild but this year has been a struggle to say the least. Footy boss Simon Lethlean has a mandate to orchestrate change and begun by cutting three assistant coaches and list manager Tony Elshaug, while Adam Kingsley will be at Richmond in 2019.

Nathan Freeman, Nathan Wright, Ray Connellan and Hugh Goddard have already been delisted.