Statement of Compliance with the National Housing Federation’s ‘Excellence in Governance’ Code
Wulvern follows corporate governance best practice. We have adopted the National Housing Federations’ Excellence in Governance Code and Good Practice Guidance.
Wulvern complies with the NHF Code with the exception of the number of Co-opteed Board members permitted to sit on the Board. Board exceeds the recommended 12 Board members when Co-optees are included in the count, (3 Co-opted Board members are permitted under Wulvern’s rules). Board has taken this decision in order to aid an effective programme of succession and induction when existing Board members retire.
Having Co-opted Board Members (“co-optees”) is an important element of good governance which can assist the Wulvern Board by bringing in people with specific skills, competencies, experience and knowledge. It can also assist with succession planning and developing a pool of suitably skilled and experienced people to consider as future Board Members.
Once appointed, Co-optees have the same rights and responsibilities as Board Members, except that they cannot take part in the proceedings of the Annual General Meeting or other Special General meeting, and the election of new Board members or the appointment of the Chief Executive and the Company Secretary.