Yachting: Dickson resigns from BMW Oracle

New Zealander Chris Dickson has stepped down as Oracle's chief executive officer and skipper. Photo / Reuters

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America's Cup syndicate Oracle have announced that Chris Dickson has resigned from the team effective immediately.

BMW Oracle Racing were bundled out of the semifinals losing to Luna Rossa 5-1.

The major failing of the Oracle team was the lack of chemistry in the afterguard which featured the highly volitile Dickson.

Dickson was appointed chief executive officer and skipper for the 32nd America's Cup. Following his team's exit from the competition he directed the debrief process up until his departure.

"Rather than see how the final weeks of my contract I have decided that leaving now will allow me both and the team to move on and make plans for the future," Dickson said.

In the interim the current managament group will control the day to day running of the team.