Sign in

Information for candidates for the Lincolnshire Co-op Board of Directors

Lincoln Amm 2018 84 002

Introduction

Lincolnshire Co-op is a co-operative and abides by the internationally recognised co-operative values and principles. Our purpose is to bring together ideas, energy and resources to make life better in our communities. Lincolnshire Co-op is incorporated as a society under the Co-operative and Community Benefit Societies Act 2014. It is the main holding company in the group. Its directors are directors of the holding entity and all main subsidiaries and have the same legal responsibilities as directors of other corporate bodies such as companies.

The Board is elected from the members of Lincolnshire Co-op and is able to co-opt up to 3 directors to bring in additional expertise.  There are a small number of places which can be taken by current and former employees of the Society.

Experience & skills

An effective Board is made up of individuals with a diverse range of skills and experience that complement each other. Directors should each have skills, experience & attributes that make a positive contribution to the Board. We have a competency framework which sets out the overall skills and experience we expect within the Board.

The Board of Lincolnshire Co-op must contain sufficient skills and experience to help ensure its long-term commercial success and to set its strategy and vision. 

Information for Candidates: 

You should be prepared to make a substantial contribution to Lincolnshire Co-op and, as a minimum, you are likely to need to be able to give 28 days a year.

There are thirteen Board meetings each year (held in Lincoln), our Annual General Meeting, half yearly meetings and a two-day strategy seminar.

The role of a director is varied, you will be expected to perform your duties and responsibilities with integrity and efficiency to a standard commensurate with both the function of your role as director and your knowledge, skills and experience.

As a director you will be required to:

  • Understand and exercise your powers within the constraints of the co-operative’s governing document.
  • Take decisions objectively in the interests of Lincolnshire Co-op.
  • Understand and abide by the co-operative’s Code of Conduct for directors.

Directors can be expected to (this list is not exhaustive):

  • liaise and engage via email between meetings, prepare for meetings, read electronic papers in advance and updates on activity at Lincolnshire Co-op;
  • constructively challenge and help develop proposals on strategy;
  • scrutinise the performance of the Executive
  • Scrutinise and monitor performance of the business
  • monitor the reporting of performance against Key Performance Indicators and objectives;
  • satisfy themselves on the integrity of financial information and internal controls;
  • uphold high standards and integrity and instil the appropriate culture, values and behaviours in the board room and beyond;
  • determine appropriate levels of remuneration, play a role in the appointment and, where necessary, the removal, of the Chief Executive, and in succession planning
  • represent Lincolnshire Co-op externally including at events.

A number of directors also contribute additional time by serving on a subcommittee. 

The role of Lincolnshire Co-op’s Board of Directors is to ensure its long-term success and act in accordance with the International Co-op Alliance Statement on Co-operative Identity.

The Board is elected by and accountable to the members who own and control Lincolnshire Co-op.

The Board provides accountable leadership by setting the strategic direction and ensuring it runs efficiently within a framework of prudent and effective controls.

Individuals must be aware of director duties and responsibilities in law, detailed in the Companies Act 2006, which apply indirectly to directors of societies and directly to directors of companies.

The duties are:

  • To act within powers
  • To promote the success of the co-operative
  • To exercise independent judgement
  • To exercise reasonable care, skill and diligence
  • To avoid conflicts of interest
  • Not to accept benefits from third parties
  • To declare interests in proposed transactions or arrangements with the co-operative
  • Confidentiality.

Directors are in a position of trust both for the Board and the organisation as a whole. They act as trustees and agents for the organisation and its members, and must not disclose confidential matters.

A director’s duty of care is to Lincolnshire Co-op and not to any other organisation that the director may be a member of, or any other interest group. 

Directors are elected for a three year term of office. Directors can serve a maximum of three consecutive terms of office (a total of nine years). 

To stand for election to the Board of Directors you must meet these criteria which include:

  • Must be aged 18 years or over
  • Must have been a member of Lincolnshire Co-op for at least 3 years
  • Must have made purchases with Lincolnshire Co-op totalling £1,500 over the past 3 years, with at least £500 per year in at least two of the three years.

If you don’t currently meet these criteria but think that you may have something to offer, we’d still like to hear from you. 

Lincolnshire Co-op covers the cost of reasonable out of pocket expenses of directors, details of our expenses policy are provided during director inductions. 

To recognise their contribution an annual fee of £8,500 is paid to directors, with enhanced fees paid to the Chair, President and Vice President.

If you want further information, or would like to speak to either a current Director or an officer of Lincolnshire Co-op, please contact our secretariat team by email at secretariat@lincolnshire.coop

  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •