Davies has been a tremendous servant to Welsh rugby and helped found the Ospreys in 2003, before taking the role of chairman in 2019. Ospreys chief executive Nick Garcia will take his place as Ospreys representative on the PRB board.
Davies, a widely respected figure in Welsh and European rugby, will continue to play a key role as an investor in Y11 Sport & Media, the new Ospreys holding company. “The Ospreys have been on an extraordinary journey to date,” said Davies.
“From our genesis as a region born out of two clubs with long traditions and history, we caught the supporter’s imagination and developed one of the most recognised and dynamic brands in rugby. With the region’s new management and ownership structure now in place and the transition fully completed, it’s the right time to take a step back and allow for a further strengthening of the organisation’s leadership and governance, ahead of further growth.
“I’m so proud of what everyone has achieved and I know the Ospreys are now fully prepared for the next and more exciting chapters to come. There is no doubt professional rugby is on the cusp of a new global era and has to adapt to take full advantage to deliver in a competitive sporting marketplace.
“That means harnessing expertise from outside of rugby, from the business and sporting worlds, to provide real acumen and to lay foundations for an exciting and sustainable future. At the Ospreys, with the investment with Y11, we have done that, acknowledging the need to embrace change to harness the benefits and opportunities ahead.”