At the Board meeting on 26th January Northern Counties Board approved proposals from its Chairman John Thomson, and the Chief Executive Ken Irving, to begin paying its Board Members from April 2005. This decision is based on detailed research and review and has been taken in full compliance with Housing Corporation guidance on the payment of board members. The key reasons that have led to this change are:
- The growing governance and complexity of the business,
- The size and scope of the organisation and its customer base
- The increasing demands and responsibilities these factors place on our Board Members
- The competition faced for new Board Members from within the housing sector and other areas of business.
A review of the implementation of payments, and issues arising, will be undertaken after the first year. The following payments will be offered to Members from April 2005:
- The Chair £12,500 per year
- The Vice Chair £7,000 per year
- Board Members £5,000 per year
Individuals who do not wish to take up the payments will be free to decline them.
This decision will help to ensure that the successful leadership of Northern Counties is secure as we look to further improve the future quality of the services provided to all customers.
For more information from the Housing Corporation website on the payment of housing association Board Members, please follow this link |