CPA Australia new board has held its first meeting since being elected following the string of of controversies leading to the CEO' departure.
In its first meeting the board agreed to review the organisation’s strategy taking into account the pending outcomes of the independent review and following a consultation with members and staff.
The board also approved the search for a new CEO and appointed external firm Spencer Stuart for the recruitment.
CPA Australia board’s first meeting also addressed questions of executive remuneration and governance arrangements. “The Board has approved independent benchmarking for Director and Executive Remuneration,” CPA Australia said in a statement. “The outcome of this work is expected in November and will be applied to all Directors retrospectively to cover the period from 1 October when new Director terms commenced.”
In terms of governance, the Board has established two new committees, one to oversee member engagement and one to oversee the implementation of recommendations from the independent review. The charters for both committees are being developed.