Dear Members

After careful consideration, I believe the time is right to step down as CEO of Knox Basketball.

After a few tumultuous years we have not only avoided being placed into receivership, we have thrived operationally and importantly, re-established strong and robust relationships with our key stakeholders.

We have regained respect from the wider community. An unprofitable organisation is now profitable.

My original motive to join Knox Basketball was to turn around our financial distresses whilst ensuring that every opportunity was afforded to our families to keep children playing basketball. Although the job became much more challenging than originally envisaged, I am pleased to report that I have delivered on my original objectives.

Thank you all for your support during a most challenging journey.

It is now timely for me to step away. The platform is well and truly ready for a new CEO to take Knox Basketball to the next level. The exciting Government announcement last Sunday will further cement our position as the basketball centre of choice in Australia.

Although I finish up in mid-September, I will be supporting Knox Basketball over several months to ensure a smooth transition. In the meantime, current Chairperson Grant Harrison will be acting CEO until the position is advertised, Grant has had previous business experience as a CEO. Further advices will issue shortly with respect to advertised roles. Grant will step down as Chairperson of Knox Basketball for the interim. Michelle Murray, currently Vice-Chair will take up the position of Acting Chairperson. Other Board matters and positions will be addressed at the next Board meeting with further advices to follow.

Knox Basketball is in a strong position and every effort will be made to ensure a seamless transfer of roles as we enter a busy few months both on and off the court.

Once again, thank you for the opportunity to manage a great community organisation, it has been a privilege.

Yours in Basketball

STEPHEN WALTER

Chief Executive Officer

Knox Basketball Inc.