Birmingham City: Owner Carson Yeung steps down from boards

Birmingham City owner Carson Yeung has resigned from his positions on the boards related to the club.

The Hong Kong businessman, owner since 2009, remains Blues' major shareholder.

Yeung, 53, was president of Birmingham City FC, director of Birmingham City plc and director and chairman of the club's parent company, Birmingham International Holdings Ltd (BIHL).

Turbulent times at St Andrew's

  • October 2009 - Following an initial failed attempt in 2007, Carson Yeung completed his £81.5 million takeover. Deal approved by Stock Exchange.
  • May 2010 - Alex McLeish leads Birmingham to ninth in the Premier League.
  • Feb 2011 - Birmingham beat Arsenal 2-1 to win the League Cup.
  • May 2011 - Blues relegated. McLeish leaves for Aston Villa.
  • June 2011 - Yeung first appears in court on money-laundering charges.
  • May 2012 - Blues miss out in Championship play-offs on same day that acting chairman Peter Pannu announces they are looking to attract new investment.
  • October 2012 - Pannu reveals two prospective buyers, including a consortium led by Midlands-based former QPR chairman Gianni Paladini.
  • May 2013 - After an initial postponement, Yeung's trial opens in Hong Kong.
  • Feb 2014 - Yeung resigns from all roles on the boards related to the club - 24 days before verdict in his trial is due.

He is awaiting the verdict of a money laundering trial in Hong Kong, an offence he denies, due on 28 February.

"Carson Yeung has taken this decision to focus more time on his ongoing court case and to satisfy one of the requirements for the resumption of trading of BIHL shares," said Blues' acting chairman, Peter Pannu.

"I will endeavour to update supporters further following the forthcoming EGM in Hong Kong.

"I would like to take this opportunity to thank Carson Yeung for his vision, dedication and generous support for the football club."

This latest announcement on Hong Kong businessman Yeung's future was initially made in a statement to the Hong Kong stock exchange, before Wednesday's BIHL EGM, which also outlined two new appointments.

Yeung has been succeeded as BIHL chairman by Cheung Shing, another of the company's executive directors.

Ma Shui Cheong, who has been appointed vice-chairman of BIHL, was given a place on the board at St Andrew's on Monday along with Greek finance specialist Panos Pavlakis, joining Pannu and Yeung's son Ryan and Pannu.

BIHL expressed its gratitude to its former chairman in a prepared statement, which said: "Mr Yeung, with his foresight, aspiration and clairvoyance, has steered the board successfully through landmark projects such as the acquisition of Birmingham City Football Club, for which the board is profoundly indebted.

"Mr Yeung unequivocally confirms that he has no disagreement with the board and that there are no other matters relating to his resignation that are required to be brought to the attention of the shareholders of the company."

Birmingham, relegated from the Premier League in 2011, currently stand 18th in the Championship, six points clear of the relegation zone ahead of Saturday's game at 22nd-placed Charlton Athletic.