The Wildcats confirmed on Tuesday the club had started an "extensive search" to find a new chief executive after parting ways with Georgiu.

Georgiu held the chief executive position since 2017 and had spent the past 20 years at the club working in various roles.

He played a vital part in ensuring the Wildcats were awarded the 2020 Championship after the Sydney Kings refused to play out the grand final series due to COVID-19 concerns.

Georgiu's exit means the Wildcats have changed ownership, coach and chief executive over the past year.

Sports Entertainment Network boss Craig Hutchison bought the Wildcats last year from the late Jack Bendat, who passed away in February.

American Scott Morrison was appointed coach last August after Trevor Gleeson took up an assistant's role at NBA outfit Toronto Raptors.

The Wildcats made a hot start to the season under Morrison, but they faded badly and ended the campaign in fifth spot with a 16-12 record.

It marked the first time the club had missed the finals since 1986.

"I would like to thank Troy for his 20 years of service, we wish him well in his future endeavours," Hutchison said.

"We will now look to appoint the best possible candidate to ensure we remain the envy of not only the NBL, but all sporting organisations across the country.

"I am extremely confident this role will be a highly sought-after position given our standing as an iconic and highly regarded organisation."

Australian Associated Press