Kordahi has been the figurehead of the new ownership during the club's rebuild, having been instrumental in reinstating the 'Illawarra' name after it was taken away after the collapse of the previous management and uncertainty about the Hawks future.

In a shock statement on Tuesday afternoon, the Hawks said Kordahi decided to leave due to his other business interests in Sydney and overseas.

Read more: Illawarra Hawks taking flight for NBL title shot: AJ Ogilvy

"The move comes after Kordahi cited the need to focus more time and attention on his other business endeavours," it read.

"As president of the foundation club, Kordahi is credited with starting the Hawks in Business program and was a large, deciding factor in head coach Brian Goorjian coming to the Illawarra in 2020.

"Despite relinquishing his duties from the operational side of the business, Kordahi will remain part of the Hawks ownership group.

"The Hawks ownership group remain committed to keeping the club thriving in the Illawarra and has already begun the recruitment process to find an experienced leader."

Read more: Sydney Kings claim gritty over-time win over Illawarra Hawks in Wollongong

In the interim, championship-winning captain and former general manager Mat Campbell will return to the club for the rest of the season, as the club looks to the future direction.

The Hawks are currently third on the NBL ladder after an overtime loss to arch-rivals Sydney and play Perth on Friday night, before facing the Kings again on Sunday.

To read more stories, download the Illawarra Mercury news app in the Apple Store or Google Play.