Decision details

To agree the appointment of a non executive chair and non executive director to the Board of Aequus Developments Limited and to determine the remuneration for these roles.

The Leader, as shareholder on behalf of the Council, agreed for Aequus Developments Limited to:

1)  Appoint Charles Gerrish to be the non executive chair of Aequus Developments Limited with effect from 7 May 2019.

2)  Appoint Les Kew to be a non executive director of Aequus Developments Limited with effect from 7 May 2019.

3)  Agree the remuneration for the roles of non executive chair and all non executive directors at £10,000 and £4,000 respectively.

To enable ADL to succeed in delivering returns to the Council, it must retain quorum of directors.

This decision is not subject to call in by virtue of part 4 D (1) of the Council’s Constitution which specifically excludes from call in decisions of the Leader acting in their capacity as Shareholder of a Local Authority Company owned or operated by the Council.

To refuse shareholder consent to the request which would limit the ability of ACL to operate and compete in the marketplace.