22 May 2020
Become a WESCT Trustee
KIA ora — I’m William Oliver, and I was fortunate enough to be elected in 2017 as one of six trustees for the Waitomo Energy Services Customer Trust (WESCT), the 100% owner of The Lines Company (TLC).
I want to share my experience as a trustee with you and hope it will encourage others to consider putting themselves forward for nomination as a trustee in the upcoming election.
Working alongside others who have different skill sets and experience I can learn from has been a positive experience. The feeling I am giving back to the community I live in is something I also appreciate. Becoming a trustee of such a large and integral community-owned asset with a turnover of $44.5 million, is a big responsibility. While the role of trustee can be demanding at times, it is ultimately rewarding.
The trustees’ main duty is protecting the value of the shares and distributing benefits to the trust’s beneficiaries, which is done in the form of customer discounts. In the year ending March 31 2019, the trust delivered $5.6 million in discounts through TLC.
Trustees are also responsible for appointing new TLC directors, annually reviewing the TLC directors’ performance, and determining with the company a Statement of Corporate Intent. Through these processes, WESCT can influence the direction of the company for the benefit of its beneficiaries and all customers.
Trustees participate in monthly meetings plus about six additional meeting/events a year and commit to a three-year term. If you think you might be interested in becoming a WESCT trustee, nominations open on Thursday July 2 and close on July 30 with the vote held in September.
Some governance experience, a team player and an ability to articulate your opinions clearly and concisely are desirable skills.
WESCT will be running a candidate information evening
Monday July 6 in the Community Meeting Room in the Railway Building, Rora Street, Te Kūiti from 5.30 pm – 7pm to assist potential candidates in deciding whether to go ahead and lodge their nominations.
For more information contact firstname.lastname@example.org