Andium Homes Limited: Extension of term of office of Guarantor's Appointee

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A decision made on 23 October 2020

Decision Reference: MD-TR-2020-0133
Decision Summary Title:	Andium Homes Limited: Extension of term of office of Guarantor’s Appointee		Date of Decision Summary:	21st October 2020
Decision Summary Author:	Head of Shareholder Relations		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Andium Homes Limited: Extension of term of office of Guarantor’s Appointee		Date of Written Report:	21st October 2020
Written Report Author:	Head of Shareholder Relations		Written Report : Public or Exempt?	Public
Subject: To extend the term of the office of the Guarantor’s Appointee at Andium Homes Limited.
Decision(s): The Assistant Minister is recommended to extend the term of the office of the current Guarantor’s Appointee (Sir Mark Boleat) at Andium Homes Limited until 31 December 2020.
Reason(s) for Decision: The Memorandum and Articles of Association permit the Guarantor to nominate a Guarantor’s Appointee and the extension is required to ensure continuity of the Chair position until the recruitment process is complete.
Resource Implications: There are no financial or manpower implications for the Government associated with this decision.
Action required: The Head of Financial Governance to let the Head of Shareholder Relations know when this decision is signed.
Signature:		Position: Deputy L Ash, Assistant Minister for Treasury and Resources
Date Signed:		Date of Decision:

Andium Homes Limited: Extension of term of office of Guarantor's Appointee

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Treasury and Exchequer

Ministerial Decision Report

Andium Homes Limited: Extension of term of OFFICE OF Guarantor’s Appointee

Purpose of Report

To enable the Assistant Minister to extend the term of office of the Guarantor’s Appointee at Andium Homes Limited.

Background

Pursuant to MD-TR-2019-0104 the Assistant Minister nominated Sir Mark Boleat as the Guarantor’s Appointee at Andium Homes in accordance with Article 26 of the Company’s Articles of Association.

Sir Mark was appointed to specifically focus on commencing the process for the recruitment of a new Chair, in line with the Jersey Appointments Commission’s (the “Commission”) guidelines and leading the search for other independent directors who possessed the skills identified in a Board Effectiveness review undertaken by the Company. Furthermore, Sir Mark was asked to undertake a wider review of the Company’s governance and the recruitment of a new Finance Director was also a priority.

Sir Mark has led the search for other independent directors which has resulted in the appointment of additional non-executive directors which has strengthened the depth and breadth of experience of the board of directors. Lindsay Wood was also appointed as the Finance Director of Andium Homes with effect from 1 January 2020.

It was originally intended that Sir Mark’s term would be for a maximum period of 12 months or until a suitable long-term Chair was identified through the Commission’s process, whichever was sooner, and public statements were made to that effect.

Andium Homes have confirmed that the recruitment process for a new Chair and replacement for Sir Mark has begun and provided details on the recruitment process and timetable. As the process extends beyond the end of October, the Board of Andium Homes’ has requested, by letter dated 7 October 2020, a short extension of Sir Mark’s period of office to 31 December 2020.

The Jersey Appointments Commission have been consulted on this extension and are content to approve the extension given they are involved in the new Chair recruitment process.

3. Recommendation

The Assistant Minister is recommended to extend the term of the office of the current Guarantor’s Appointee (Sir Mark Boleat) at Andium Homes Limited until 31 December 2020.

4. Reason for Decision

The Memorandum and Articles of Association permit the Guarantor to nominate a Guarantor’s Appointee and the extension is required to ensure continuity of the Chair position until the recruitment process is complete.

5. Resource Implications

There are no financial or manpower implications for the Government associated with this decision.

Report author : Head of Shareholder Relations	Document date 21st October 2020
Quality Assurance / Review :Head of Financial Governance	File name and path: L:\Treasury\Sections\Corporate Finance\Ministerial Decisions\DS, WR and SD\2020-0133 - Andium Homes Limited Extension of term of office of Guarantor’s Appointee
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