Liverpool appoints equity expert Purslow onto board; will act as interim managing director

Liverpool appoints equity expert as board director

LIVERPOOL — Liverpool appointed private equity executive Christian Purslow to the board of directors on Monday. He will act as managing director while the search for a new chief executive continues.

CEO Rick Parry will leave this week following 11 years at Anfield after becoming a casualty of the power struggle between the club’s American owners, Tom Hicks and George Gillett Jr.

Hicks said Purslow, a longtime season ticket-holder at Liverpool, had been selected for his “commercial acumen” and existing strong links to the Premier League club.

Purslow, who has an MBA from Harvard Business School, is also an executive board member and co-founder of private equity firm Mid Ocean Partners.

“Tom and I felt that it was important to put a highly experienced and respected executive in place to run the club and support the senior team and the manager,” Gillett said. “There’s a lot to get done over the summer to build on the great season we just had and Christian will be a valuable addition to the team.”

Purslow will bring expertise to the owners’ bid to refinance their debt amid the global financial crisis. A credit facility of about $578 million from Royal Bank of Scotland and Wachovia must be refinanced by July, although there is confidence that the terms will be renewed.

On Saturday, Gillett announced he was selling the Montreal Canadiens ice hockey team back to the Molson brewing family.