Issue - meetings

The Cabinet Member for Finance, Performance and Core Services introduced a report on proposed new arrangements regarding the appointment of individuals to the Boards of Council wholly-owned companies.

The Cabinet Member outlined the current position in respect of each Board of Directors, the number of vacancies that were due to arise over the course of the next year and plans to strengthen Board memberships to provide additional expertise and insight.  He also advised on the outcome of a Council-commissioned external board effectiveness review process, in line with best practice for commercial companies, which identified the strengths and areas of improvement relating to the governance of each company, which the respective Boards had received for their consideration and implementation.

The Cabinet Member was pleased to report that the review process had not highlighted any significant concerns, with recommendations focussed on aspects such as Board agenda cycles, annual reviews of risk management and internal control procedures, and the approach to succession planning for Board appointments.

Cabinet Members welcomed the review of the Boards’ governance arrangements and officers were asked to provide a briefing on the progress of the wholly-owned companies and to make available the board effectiveness review reports.

Cabinet resolved to delegate authority to the Chief Executive, in consultation with the Shareholder Panel, to approve on behalf of the Council as shareholder the appointment of individuals to Company Boards, including negotiating any remuneration packages or other contract terms in accordance with the relevant Company Policy.