MELBOURNE has released the findings from its internal board review, citing a need for significant rejuvenation and genuine change within the board and overall football club.
The review was undertaken on behalf of the Melbourne Football Club Board by Board member and former managing partner of Deloitte, John Trotter.
The report said Melbourne’s “current financial position and on-field performance does not meet the expectations of members, key stakeholders and the AFL.” It added that “the AFL has offered support to address these issues, but this support is highly conditional”.
The objectives of the board review were to:
- assess the performance of the board and provide recommendations to improve board performance
- review and make recommendations on the state of the Melbourne Football Club corporate governance framework, including structures, processes and operations of the board with a focus on bringing the framework, where practicable, to industry and corporate best practice standards
- determine the future requirements of the board, including board composition.
The review included feedback from club board members, senior management and key internal and external stakeholders, including the AFL.
The corporate governance framework was assessed against the Corporate Governance Framework for AFL clubs, the ASX Corporate Governance Council - Principles and Recommendations with 2010 Amendments, and generally accepted corporate best practice.
The club will now seek to bring its governance frameworks up to best practice.
AFL General counsel Andrew Dillon said the League endorsed the report.
“The AFL is satisfied that the board review process undertaken by the Melbourne Football Club was robust and the recommendations are supported by the AFL,” he said.
The report said the board had provided “significant value” to the club in the past five years, but recognised the need for change in a number of areas.
The review also recommended the creation of a Nominations sub-committee to select future board members. This has been established, and will consist of board member Russel Howcroft, Trotter and Dillon, the latter representing the AFL.
The report also said that clear selection criteria/background had been established for future board members.
Overall, the recommendations contained in the report were seen as critical to satisfying the conditions of the AFL, regaining the confidence of its members and stakeholders, and providing the stable environment essential to attracting key football department personnel and retaining players.
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