Donaghy’s contract was set to expire in January and he’s believed to have taken up an offer to join the Broncos, replacing outgoing boss Paul White.
Melbourne confirmed the move with a statement on Thursday, saying Donaghy will return to Queensland at the end of his contract for “personal reasons”.
The Broncos are also believed to be going after premiership-winning coach Craig Bellamy to take on a director of coaching role above new Brisbane coach Kevin Walters.
Bellamy is contracted at the Storm until the end of the 2021 season, while skipper Cameron Smith has also been linked to the wooden spooners.
“Dave has made a solid contribution to Storm over almost 10 years with the club,” Storm chair Matt Tripp said in a statement.
“The club backed Dave when we first appointed him as a young CEO in 2015 and that investment has paid off with results on and off the field.”
Tripp said the search for a new chief executive would begin immediately with chief financial officer, Ashley Tucker, the interim CEO.
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