Decision details

That the Executive:

(1)  Notes the recommendation of the ESPO Management Committee, having reviewed the detailed business case and other documents, to establish a  trading company;

(2)  Approves the establishment and the taking up of County Council membership of a new trading company, ‘ESPO Trading Limited’ on the basis outlined in this report;

(3)  Notes that the Board of Directors of the trading company will include five officers, acting as Executive Directors made up as follows:

(i)            Three officers from ESPO being the following office holders:

·         Director of ESPO

·         Deputy Director and Chief Commercial Officer

·         Assistant Director of Finance and IT

(ii)     The Director of Corporate Resources (Leicestershire County Council) or his nominee;

(iii) An officer nominated by the other Shareholders (member authorities of ESPO);

(4)  Approves the granting by the Council of an indemnity within the scope permitted by the Local Authorities (Indemnities for Members and Officers) Order 2004 to any County Council officers discharging the role of Executive Director of the Company;

(5)  Notes that the Shareholders (member authorities) may nominate up to two Non-Executive Directors to serve on the Board of the Company;

(6)  Notes that each of the six member authorities will be equal shareholders in the new Company and approve the appointment of Councillor R D Butroid as the County Council's shareholder representative on the new company;

(7)  Notes that the shareholder representatives (Elected Members) will be responsible for taking strategic decisions and agreeing the Annual Business Plan for the Company; and

(8)  Delegates to the Executive Director for Finance and Public Protection in consultation with the Leader of the Council authority to agrees the terms of and sign the necessary documentation to give effect to this decision and to agree the nomination of an officer from the ESPO member authorities to be an Executive Director of the company.