In order to facilitate the process and allow the Subsidiaries to flourish and grow, and bring positive benefits to the Trade Federation activities, the GGF Board has decided on the following structure.1.The GGF Trade Federation will operate as a single entity, continuing to provide excellent service to its Members. It will be led by Nigel Rees as the Chief Executive, with a Board of Directors constituted from the GGF Membership.
2. The Subsidiaries will be encompassed within a new Group company led by a Group Chief Executive and Group Board made up from within the GGF, supported by Non-Executive Directors.
3. The new Group Company will be a fully owned subsidiary of the Trade Federation with its new Group Chief Executive directly accountable to the GGF Board.
4. The Subsidiaries will continue to operate their own Boards; the participants of these Boards may change from those currently in place.
5. All of these changes have been introduced following a legal review of the proposed structure.
After lengthy GGF Board discussions and completion of the legal review of the proposed structure, The Board has decided to appoint Jon Vanstone as Group Chief Executive of the new Group company with immediate effect.
This was a major decision for the Board of Directors and is viewed as a positive step for the Federation, the GGF Staff and Members. They are confident that this will provide greater benefit for the GGF and its Membership and allow both the GGF and the new Group to function and prosper in existing and potential new markets.