Mark Korda, Peter Murphy named as interim Collingwood co-presidents as Magpies begin search for replacement

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The statement also addressed initial plans for implementing recommendations from the Do Better report, which said there had been “systemic racism” at the club.

“The implementation plan of the Do Better report findings was also addressed at Wednesday’s meeting. It was determined that the expert advisory panel recommended by the Do Better report will be established as a priority and report directly to the board,” the statement said.

“This work has already commenced and an announcement on the formation of the panel will be made next week.

“Further, the club will employ a strategic advisor to provide expert advice as the club begins to implement all the recommendations of the Do Better report across the organisation. This role will report directly to chief executive Mark Anderson. This appointment is also expected to be announced next week.”

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Murphy presided over Collingwood’s review in 2017, which saw the club re-appoint Nathan Buckley as coach and rise up to a grand final (loss) and to a revamp of football and administration.

But one of the recommendations from that review – that there should be term limits for board members, a move that would have forced McGuire to finish up sooner – was not adopted by the board in the review of governance.

Korda has been influential in the oversight of Collingwood’s finances and in the disposal and purchase of assets, such as pubs, bringing his long-standing high-level experience as one of business Australia’s most-established corporate recovery specialists.

A view was taking shape on the board last week – and which gathered momentum as the club and McGuire were subjected to heated criticism over the findings and the president’s handling of the Do Better report – that the club would be best served by McGuire stepping aside, a position that he had accepted by Tuesday when he quit after 22 years.