Hot on the heels of the appointment of the former head of news at ITV Wales, John Williams, as the WRU's new Head of Communications, Lewis has wasted no time in filling another key post in his team.
"Steve comes to the WRU with a fantastic background in big business and has a big reputation in the financial and commercial world," said Lewis. "He played a key role in the rise of Welsh company TBI and has vast experience of working in the public company sector. His accountancy background, allied to his commercial skills and great intellect, will make him a major player on the Executive Board.
"He also understands the core values of our business through his rugby background. A very competent centre, who captained Amman United and played for London University, Welsh rugby runs through his veins.
"I am thrilled by his appointment and his commercial experience will be invaluable as we seek to build our business and improve the financial position across the WRU Group."
Phillips is set to take up his position next month and will join Lewis, Williams and new Millennium Stadium manager Gerry Toms on the WRU Executive Board.
His former boss at the TBI Group, chief executive Keith Brooks, believes the WRU will be well served by his ex-colleague.
"Steve is the right man at the right time for the WRU. It is a good time for the WRU to make this kind of appointment and Steve will bring huge commercial experience with him to his new role," said Brooks. "I worked with him for 10 years at TBI and he was part of a great team at the company. He has a real flair for business and is also very passionate about, and deeply involved in, Welsh rugby.
"I think he is ideally suited to this role and will be a great asset to the WRU."
Phillips is used to being at the heart of major deals and was Group Finance Director of a company with a £170m annual turnover when he was at TBI. The company is one of the largest regional airport owners in the world. In his 10 years at the company he played active roles in the acquisition of airports in Belfast, Sweden, London Luton, Bolivia, Costa Rica, Australia and North America and was directly responsible for the sale of one of the company's flagship assets, Cardiff Hilton, for £26m.
So what is Phillips expecting from his new position at the WRU? "I am ex-public company and I am used to the standards, governance, accountability and expectations that come from working in that sector. While the WRU is in effect owned by 241 rugby clubs, it has a huge profile in Wales and needs to be seen to be as transparent and effective in its business practices as the biggest of public companies," said Phillips.
"Having been responsible for the financial obligations for a company like TBI with an annual turnover of £170m, I feel that I am well suited to deal with the basic financial demands of the WRU Group.
"TBI was a listed property company when I first started working with them and I gained a lot of experience in that area because there is also a significant amount of property play within airports. I became used to doing major deals and struck up a good working relationship with TBI's bankers, Barclays Bank.
"As Group Finance Director at TBI, I was part of a management team involved in formulating strategy and corporate direction and was heavily involved in the approval of all capital expenditure within the company.
"There are many challenges at the WRU and I am looking forward to shaping the business to make it fit for purpose to successfully move forward. I hope that I can bring my financial and commercial skills to bear on the WRU Group business so that it can have a positive impact on what goes on at every playing level within the game. I can't wait to get involved in a company that has such a huge impact on our nation.
"This is a big job that brings with it a high profile position on the WRU Executive Board. I am very passionate about rugby and am excited about working with Roger Lewis and driving the game forward in Wales. Professional rugby is very exciting, although it is the community game that I understand best of all having played for almost 16 years with my home town team Amman United.
"The challenge is to ensure we can develop the WRU Group business to help improve the standards and fortunes of the National and Regional teams, while also ensuring the community game can flourish and continue to provide a conveyor belt of talent."
Marital Status: Married with two daughters.
Educated: Amman Valley Comprehensive & Imperial College, London
Trained at KPMG accountants, Swansea and qualified as a Chartered Accountant in 1989 (1985-93)
Finance Director at the Tedcastle UK Group (1993-96)
TBI Group Financial Controller and then Group Finance Director (1996-2006)
Rugby Background: Played for Amman Valley Comprehensive, Imperial College, London University and former Captain of Amman United