Brumbies chief executive Michael Jones has been stood down by the Super Rugby club just two days after he stated "I'm not going anywhere."
Jones on Saturday reacted to speculation over his future by declaring that he had no intention of leaving his role with the Canberra-based club.
But Brumbies released a statement on Monday confirming Jones' departure and chairman Robert Kennedy also offered assurances over the financial situation at the club.
"It was with great regret that I informed Michael of the board's decision. However, I believe this decision is in the best long term interests of the Brumbies," Kennedy said in a statement.
"I also want to reassure our business partners, stakeholders, players, staff and members that the board has full confidence in the remaining executive management team within the Brumbies and our current financial position to continue operations throughout the 2016 season.
"We are immensely proud of our Rugby program at the Brumbies and once again we've had a positive start to the season both in terms of on-field results and crowd support. I would ask all Brumbies fans to rally behind the team and continue to show their support in what we hope will be another successful year."
Craig Leseberg will stand in as chief executive following Jones' exit.