World Rugby has announced its long-standing chief financial officer (CFO), Robert Brophy, will depart the rugby union’s international governing body, after almost three decades in the role.

Brophy, who served as CFO and acting CEO in 2012, is credited by World Rugby as being integral in the development and stability of organisation as both a business and a federation, having “supported the financial stability and revenue growth of member unions, regional associations, and the federation more broadly.”

His long tenure oversaw the growth of quadrennial revenues for the organisation, from £30 million (AUD $48.2 million) to over £650 million (AUD $1 billion), in addition to overseeing the financial management of multiple men’s and women’s 15s, and Sevens Rugby World Cups.

Commenting on Brophy’s departure, World Rugby CEO, Alan Gilpin, said: “Robert’s contribution to World Rugby and the world of rugby is significant.”

“Over a tenure spanning most of rugby’s professional era, he has been at the heart of the sport’s growth story, playing a leading role in transforming the finances of the organization and its major events to increase sustainable investment in our national unions and wider sport,” he said.

Brophy added: “It has been an honor to serve World Rugby in various exciting and challenging roles. The organization has grown exponentially in that time, and it is ideally positioned to take the sport to the next level in terms of growth and participation.”

The recruitment process for World Rugby’s next CFO will be managed by sports industry recruitment firm, SRI.

This news comes after World Rugby announced funding towards player welfare advancements.