Governance and Finance
A new, private sector led, independent company has been set up to manage and implement the ERBID Business Plan. This is a not-for-profit company, limited by guarantee.
As presented in the ERBID Business Plan the Promote Torbay Steering Group have taken the position of directors for the first 12 months of the operation of the new company to facilitate a smooth transition.
The ERBID Company Board held their first monthly Board Meeting on the 26th January when Laurence Murrell was elected as Chairman and Martin Brook Vice Chairman. We had a very positive and constructive meeting.
The agenda and minutes of our Board Meetings will be posted on the right hand column of this page once the minutes are approved.
Steering groups with specialist skills have been and will continue to be established by the ERBID board to support the delivery of the ERBID 5 Year Business Plan. These currently include:
- Destination Marketing
- Food and Drink (first meeting 9th May)
- Governance and Finance
A new board will be elected from members of the company after the first 12 months. There will be 13 board members. Any mandatory or voluntary business contributor will be able to stand for positions on the board. Directors will serve for a 4 year period.
The ERBID Board will be made up of members: 7 elected Directors, 4 co-opted Directors, the company Chief Executive and the Council Officer responsible for tourism. The objective is to secure a balanced Board with representatives from the different sectors of the Tourism industry and marketing, accountancy and legal skills. The co-opted roles will be used to fill any gaps in the makeup of the Board. All positions will be unpaid and voluntary with the exception of the Chair and Chief Executive Officer.
Invitations will go out to all ERBID levy paying businesses and financial contributors to become members of the new company (a legal requirement) who will be able to stand for board positions and vote on company business. Board candidates for elections will be required to demonstrate their suitability in terms of skills and experience. A vote will take place of all ERBID Company members to then determine the board. Directors will be required to perform to an agreed code of conduct and there will be a procedure for removing Directors that fail to measure up to this standard.
Board Directors will be known to all businesses. There will be regular updates via newsletters and e-bulletins. The annual reports and accounts will be produced at the end of each year and available to members as well as Torbay Council’s Overview and Scrutiny Board. The agenda, budget papers and minutes of each ERBID board meeting will also be available.
The chair of the ERBID Board will be voted for by the 13 board members and will receive a small stipend (up to £5,000 per annum) in recognition of the time required to undertake this role.
It will be a requirement that board members have all the necessary skills and knowledge to successfully drive the operational side of the ERBID Company. Levy funds will be strictly monitored by the Board with all expenditure in line with this Business Plan. Working groups with specialist skills can be set up by the Board to meet separately and advise on projects in more detail.