Saracens today announces that owner Nigel Wray has accepted the resignation of CEO and head coach, Francois Pienaar. Pienaar has decided to stand down at the end of this season.

Commenting on the move, Nigel Wray said: "Francois has demonstrated huge commitment and passion for Saracens through the past five and a half years and has been instrumental in the transformation from what was essentially an amateur park team into a model innovative and professional rugby club.

It has been immensely frustrating for Francois and for the club that his great efforts have not been rewarded by more success on the field.

For several weeks, Francois and I have been talking about what it needed, and he firmly believes that a change is required to take the side forwards. Francois will help
co-ordinate the search for a new coach to ensure a smooth and seamless transition.

Finally, whilst I regret Francois' difficult decision, I am delighted that he wishes to remain very closely associated with the club."

Francois Pienaar commented: "While Saracens has continued to grow in many areas, this progress has, frustratingly, not been matched by results on the field. There have been many reasons for this situation, some unavoidable, but as CEO and Coach, I have to take full responsibility.

It has recently become apparent to me that the team needs a fresh face and a new voice to take it forward. Of course, this has been a very difficult decision. I have
developed a deep commitment to Saracens and enjoyed every aspect of my association with the club through an exciting period of transformation.

However, I decided to step down, and I would like to thank Nigel Wray for accepting my decision. He has never been less than a tower of strength."