Issue - meetings

In May 2021, the Council approved the formation of BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC). The fundamental purpose and principles of FuturePlaces is to drive placemaking, regeneration, and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

The business plan for FuturePlaces sets out the intention to appoint both an independent Chair and further non-executive directors (NEDs) to the company board as part of the company governance structure. 

Appointment of directors is a Shareholder reserved matter under the Shareholder’s Agreement.  This report sets out the process that has been undertaken to identify an independent Chair for the company and makes a recommendation to the Shareholder to appoint Lord Kerslake to that position.

Upon the appointment of the independent Chair, the Deputy Leader of the Council will step down as Chair of the company board.

This report also sets out the intention to appoint two additional independent NEDs to the company board.

Once the additional NEDs have been appointed the Leader will step down from his role as a non-executive Director of the company.

The Portfolio Holder for Development, Growth and Regeneration presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'B' to these Minutes in the Minute Book.

Cabinet was reminded that in May 2021, the Council approved the formation of BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC).

In relation to this Cabinet was advised that the fundamental purpose and principles of FuturePlaces is to drive placemaking, regeneration, and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

Cabinet was informed that the business plan for FuturePlaces sets out the intention to appoint both an independent Chair and further non-executive directors (NEDs) to the company board as part of the company governance structure, and that appointment of directors is a Shareholder reserved matter under the Shareholder’s Agreement. 

Cabinet was advised that this report sets out the process that has been undertaken to identify an independent Chair for the company and makes a recommendation to the Shareholder to appoint Lord Kerslake to that position, and that upon the appointment of the independent Chair, the Deputy Leader of the Council will step down as Chair of the company board.

Cabinet was further advised that this report also sets out the intention to appoint two additional independent NEDs to the company board, and that once the additional NEDs have been appointed the Leader will step down from his role as a non-executive Director of the company.

Councillor Iyengar addressed the Cabinet questioning whether the role was truly independent and would provide some form of scrutiny, and highlighted that the paper doesn’t highlight the scrutiny role.

RECOMMENDED that Council: -

(a)        confirms the appointment of Lord Kerslake to the position of independent Chair of the BCP FuturePlaces Ltd company board, and for him to take up that position at the next FuturePlaces board meeting;

(b)        delegates the appointment of two further independent NEDs to the Chief Executive of BCP Council, as Shareholder Representative, in consultation with the new independent Chair of BCP FuturePlaces Ltd and bring details of those appointments back to council for information; and

(c)        approves the resignation of Councillor Phil Broadhead from the board upon the appointment of Lord Kerslake, and the resignation of Councillor Drew Mellor upon the above appointments having been made.

Voting: Unanimous

Portfolio Holder: Development, Growth and Regeneration

Councillor Dunlop joined the meeting at 10.50am

The Portfolio Holder for Development, Growth and Regeneration presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'B' to these Minutes in the Minute Book.

Cabinet was reminded that in May 2021, the Council approved the formation of BCP FuturePlaces Ltd, (“FuturePlaces”) a wholly owned Urban Regeneration Company (URC).

In relation to this Cabinet was advised that the fundamental purpose and principles of FuturePlaces is to drive placemaking, regeneration, and property market transformation both across key sites owned by the Council and the wider area to support the aspirations set out in the Council’s Big Plan.

Cabinet was informed that the business plan for FuturePlaces sets out the intention to appoint both an independent Chair and further non-executive directors (NEDs) to the company board as part of the company governance structure, and that appointment of directors is a Shareholder reserved matter under the Shareholder’s Agreement. 

Cabinet was advised that this report sets out the process that has been undertaken to identify an independent Chair for the company and makes a recommendation to the Shareholder to appoint Lord Kerslake to that position, and that upon the appointment of the independent Chair, the Deputy Leader of the Council will step down as Chair of the company board.

Cabinet was further advised that this report also sets out the intention to appoint two additional independent NEDs to the company board, and that once the additional NEDs have been appointed the Leader will step down from his role as a non-executive Director of the company.

Councillor Iyengar addressed the Cabinet questioning whether the role was truly independent and would provide some form of scrutiny, and highlighted that the paper doesn’t highlight the scrutiny role.

RECOMMENDED that Council: -

(a)        confirms the appointment of Lord Kerslake to the position of independent Chair of the BCP FuturePlaces Ltd company board, and for him to take up that position at the next FuturePlaces board meeting;

(b)        delegates the appointment of two further independent NEDs to the Chief Executive of BCP Council, as Shareholder Representative, in consultation with the new independent Chair of BCP FuturePlaces Ltd and bring details of those appointments back to council for information; and

(c)        approves the resignation of Councillor Phil Broadhead from the board upon the appointment of Lord Kerslake, and the resignation of Councillor Drew Mellor upon the above appointments having been made.

Voting: Unanimous

Portfolio Holder: Development, Growth and Regeneration

Councillor Dunlop joined the meeting at 10.50am