Shareholder Committee

 

3 September 2019

Report of the Deputy Chief Executive and Director of Customer & Corporate Services.

 

Appointment of a Non-Executive Director of City of York Trading Ltd.

Summary

1.   This report provides background and information on the proposed appointment of a Non-Executive Director of City of York Trading Ltd.

Background

2.   In Early 2019, following the resignation of CYT’s previous two external Non-Executive Directors (NEDs), the Company advertised, shortlisted and interviewed a number of prospective NEDs. Two were considered suitable but one withdrew, leaving only one current candidate for approval.

3.   Although, the current Board of CYT is quorate (the Shareholders agreement requires 3 Directors for a quorum) but more resilience is needed in the event that one or other NED is unavailable for monthly Board meetings.

 

4.   In addition, the Company has the need for a non council NED to consider a pending appeal under the CYT Complaints Policy and any future appeals

  1. Under the current Shareholder Agreement, the Shareholder must approve any Directors to be appointed by the Company.

 

The CYT Board of Directors have provided Members with the candidate’s detailed CV for consideration which includes the following high level experience:

 

·        A highly-experienced, dynamic & results-driven CEO with 16 years’ experience working in B2B, manufacturing, construction, engineering, O&G, power, JVs, SMEs, international & corporate sectors.

·        Collaborative approach to successful business turnaround, engaging with business stakeholders at Board / Investor level, delivering operational improvement, sales growth & cultural change.

·        Highly accomplished, able to design and execute effective business transformation strategies & roadmaps.

·        FCCA qualified, with strong experience of applying best practice financial frameworks and controls.

Consultation

 

  1. None

 

  Options

         

  1. Members can:

 

                     I.        approve the appointment of this candidate; or

                   II.        choose not to appoint at this time

 

Analysis

 

  1. None.   

 

Council Plan

 

9.        The report contents are not directly relevant to the Council Plan.

 

Implications

 

10.     There are no financial implications as this position is not remunerated.

 

Recommendations

11.     Members are asked to approve the appointment of this candidate to the role of Non-Executive Director of CYT Ltd.

 

Reason:     To ensure the board remains quorate and as resilient as possible moving forward.

 

 

 

 

Contact Details

 

Author:

 

 

Ian Floyd

Director of Customer & Corporate Services

(01904) 552909

Corporate Services

 

 

 

 

 

For further information please contact the author.

 

 

 

Background Papers:

 

None