The Chief Executive decides as follows:

1.    To extend Kerry Kyriacou’s term of office as a Non Executive Director on the Board of Oxford City Homes Ltd (OX Place) until 5th April 2026

2.    To extend Rosemary Farrar’s term of office as a Non Executive Director on the Board of Oxford City Homes Ltd (OX Place) until 30th October 2026

The decision will ensure continuation of independent NEDs on the company Board in accordance with good practice for LATCos and will allow for effective transition to incoming NEDs.

If this decision was not taken, governance of Oxford City Homes Ltd (OX Place) would be weakened until the new Board members were in place.

An alternative option could have been not to extend the terms of office and rely solely on council officers serving as NEDs.  This was rejected because council officers do not have the capacity and independent expertise is highly valued on the Board. Asking the existing NEDs to serve for a further 3 year term would have been possible, but is not in line with best practice and was therefore not recommended.