Election as Foundation chairman

Wallace to join Tynecastle board

Stuart WallaceEdinburgh businessman Stuart Wallace is to be appointed chairman of the Foundation of Hearts.

Mr Wallace, a senior partner at PricewaterhouseCoopers where he leads the UK tax compliance team, is the sole candidate for election as a director at Thursday’s AGM at Tynecastle stadium and his endorsement will see him take up the role of chairman.

He will succeed Brian Cormack as the FoH figurehead following his resignation in December due to business commitments.

In keeping with the deal struck between Hearts majority shareholder Ann Budge’s BIDCO and the fans group, the appointment will also see him offered a role as director on the board of Heart of Midlothian FC.

Mr Wallace will become the second Foundation director on the current club board, joining lawyer Donald Cumming.

Mr Wallace, a lifelong supporter, said: “The role of chairman is a huge responsibility, as we prepare to transfer the ownership of our great football club from BIDCO into the stewardship of our exceptional supporters.

“As chairman, I will be accountable for ensuring that transfer takes place in a smooth and orderly fashion. The transfer will bring a huge collective responsibility to safeguard the club from the trials of the last few years. I feel strongly that, having built solid foundations, it is now time for us to look up, look forward and embrace change.

“Together we have created one of the biggest supporter movements in British sport and our strength should not be underestimated. The impending transition will set the tone as we move forward: put simply, how big are our dreams?

“I see my role as representing the views of the fans and making sure that our voice is heard in the boardroom. It will be my job to ensure that the club is even stronger after the transfer of ownership than it is today.”

Mr Wallace is well known to Mrs Budge, having advised the club on the Save The Children partnership. A Hearts statement said: “The club endorses the view of the FoH board that Stuart has all of the business attributes and expertise required for this position, should he be elected.”

Mr Wallace will join Mrs Budge, Eric Hogg, Kevin Windram, Donald Cumming and director of dootball Craig Levein on the Tynecastle board.

The Foundation of Hearts currently has around 8000 pledgers whose monthly contributions remain critical to the planned transferral of the club into fan ownership in 2019. The AGM takes place in the Gorgie Suite at Tynecastle Stadium at 6pm on Thursday.

Photo: Stuart Wallace (Foundation of Hearts)

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