Decision details

The Committee were updated on progress at Brunel and that the new remuneration policy had been passed by shareholders.  A wider review of governance, specifically areas that shareholders vote on, is ongoing.

A wider discussion took place around the general direction of travel of the governance review and committee indicated they were comfortable with what was currently being considered.  Ultimately any changes will require approval from Somerset via a vote signed off by the Section 151 officer.  As previously agreed, Committee will be consulted but that will be outside of formal meetings.

The Committee then discussed the need for a replacement member on the Brunel Oversight Board following the resignation of the Committee’s Unison representative, who was Somerset’s previous representative.

Cllr Seib confirmed that he would be happy to be the representative on the Board although he would willingly step down if a new Somerset union representative was interested in the role once appointed to Committee.

Committee asked about progress on a new UNISON representative being appointed Committee and it was confirmed that we had not received any contact.  The Investment Manager will chase

Resolved

1.     To note that the Investment Manager will continue discussions on Brunel’s review of governance.

2.    To appoint Cllr Peter Seib as the Committee’s representative on the Brunel Oversight Board.