Purpose

This report requests the
Corporate Director of Resources & S151 Officer to approve the
appointment of Susmita Sen, the Corporate Director of Housing, as
Director of the following wholly owned Council
companies:
 
·        
Croydon Central Management Company Ltd
·        
Croydon TH Ltd
·        
Croydon TH Commercial Ltd
 
The report also requests the
approval of an indemnity in relation to the aforementioned
appointments and recommends removal of the current
Director.
 

Content

For the reasons set out in the
report, the Corporate Director and Section 151 Officer
AGREED to:
 

 

Exercise the Council’s
shareholder function in consultation with the Chief Executive to
approve the appointment of Susmita Sen, Corporate Director of
Housing, as Director of the wholly owned Council companies, as
detailed in paragraph 1.1, and remove the previous Director, Huw
Rhys-Lewis.
 
Approve indemnification of
Susmita Sen in the form provided in Appendix A
(Deed of Indemnity - Part
B). 
 

Reasons for the decision

The Council is currently 100%
shareholder of Croydon Central Management Company Ltd (CCMC),
Croydon TH Ltd and Croydon TH Commercial Ltd. The three companies
were set up to hold and transfer leases in relation to the Queen
Quarter Development (Formerly Known as Taberner House
Site).
 
As these are Council companies
there is a responsibility to appoint a Director to manage and lead
on the operations of the entities. Huw Rhys-Lewis is currently the
Director and no longer works at the Council. A formal application
to remove Huw from the Directorship cannot be made until a new
Director has been appointed. Susmita Sen, currently Corporate
Director of Housing, is recommended to be appointed to take over
from Huw Rhys-Lewis.
 

Alternative options considered

As the only Director, Huw
Rhys-Lewis no longer works at the Council. As sole shareholder, the
Council must appoint a new Director.
 
There are no other alternatives
considered at this stage.