New directors for company owned by STDC

PAIR ARE APPOINTED TO BOARD TO AVOID 'NOT ILLEGAL BUT NOT GREAT' SITUATION

- By DANIEL HODGSON

THE company owned by South Tees Development Corporation has two new directors.

To avoid a situation deemed to be “not illegal” but also not ideal, at a meeting of STDC board held on Tuesday, the departure of one director and appointment of two new ones was confirmed.

At the same meeting, the Board backed a constitutional amendment which would see a quoracy requirement removed from STDC meetings, meaning that there will be no need for any Tees Valley Combined Authority (TVCA) Cabinet members to attend for the meeting to go ahead, while protecting the membership of the Board.

Emma Simson, group chief legal officer, explained that part one of a report being presented to members dealt with South Tees Developments Limited (STDL), which is the “limited company wholly owned by STDC”.

It was confirmed at the meeting that the directors of STDL were John Barnes (who also serves as chief operating officer of STDC) as well as Gary Macdonald (who serves as group director of finance and resources).

Ms Simson said: “This report proposes an additional two directors: Mark Buttita and Derek Weatherill.”

Outgoing chair of STDC board, Tees Valley Conservative Mayor Ben Houchen said: “Obviously appointing more directors, probably quite healthy, we've only got two at the minute, is that the reasoning for it?”