Governance

Annual General Meeting

The 170th Annual General Meeting of The Cambridge Building Society was held at the Head Office premises on Monday 20th April 2020 at 6.30pm.

The Resolutions outlined in the mailing pack to Members were all passed in line with the voting results displayed below, and the Chairman’s speech is reproduced for you.

As Members were unable to attend this year’s meeting due to restrictions, an opportunity to meet the Board will be announced on our website later this year.

Many thanks to all of our Members who registered their vote in advance of the meeting either online or by post – the results are below:

Ordinary Resolutions

1. To receive the Directors’ Report, the Annual Accounts, the Annual Business Statement and the Auditors’ Report for the year ended 31st December 2019.
98.73% were in favour

2. To approve the Directors’ Remuneration Report.
94.53% were in favour

3. To approve the re-appointment of KPMG LLP as Auditor to the Society for the period from the conclusion of the meeting until the next general meeting at which accounts are laid before the Society.
97.11% were in favour

4. To approve the re-election of Directors:

(i) Peter Burrows 
97.71% were in favour

(ii) Pauline Holroyd 
97.95% were in favour

(iii) Andrew Jones
97.66% were in favour

(iv) Andrew Morley
97.53% were in favour

(v) Jonathan Spence
97.79% were in favour

(vi) Victoria Stubbs
98.05% were in favour

Board Committees

The primary focus of the Board is to ensure that the Society has a sustainable future based on strong financial and risk management. The Board also has a duty to ensure that The Cambridge operates within relevant regulation and that proper accounting records and effective systems of business control are established, maintained, documented and audited.

Audit Committees Terms of reference Download

Audit Committee

The Committee is responsible for the review of the integrity of financial statements, the effectiveness of internal controls and compliance systems. It recommends acceptance of the annual accounts to the Board and monitors the performance, objectivity, competence and effectiveness of the internal and external auditors. The Committee recommends to the Board (for approval by our members) the appointment or reappointment of the external auditors.

Remuneration & Organisational Design Committee Download

Remuneration & Organisational Design Committee

The Committee is responsible for the terms and conditions of employment of the Executive Directors and also recommends Non-Executive remuneration to the full Board.

Nominations Committee Download

Nominations Committee

Responsible for succession planning for both Executive and Non-Executive Director positions, the Nominations Committee leads the process for recommending and appointing new members to the Board. It considers the balance, skills range, knowledge and experience of the Board, the requirements of the organisation, and recommending change where appropriate.