The Election
The Mayfair Towers board election process
The current election process is stagnant and insular. The current Nominating Committee Process is also not part of the building’s bylaws; it’s a construct made by the Board. As shareholders, we believe we should all have the opportunity to participate in the governance of our home. A process that excludes new voices and ideas leads to a lack of progress.
the “official Slate” Selection
The nominating committee
The Current Board begins the Board Selection Process by selecting the Nominating Committee, which is tasked with interviewing each person on the Board and new Candidates.
the official slate
The Nominating Committee then selects a slate of candidates that are recommended in the Building Newsletter. Historically, this slate has been made up mostly of current board members. Potential candidates who are not selected are excluded from the slate and, therefore, the ballot. Shareholders don’t get the opportunity to know who they are and what they could offer the building.
The annual meeting
Building Staff are directed to collect proxies, which by default contain a vote for the official slate the Nominating Committee chose.
EFFECTIVELY:
The Board selects the Nominating Committee.
The Nominating Committee selects the Board.
our proposed solution
YOUR PROXY
We are asked to sign a proxy so that a quorum of 50% of shares is represented during the Annual Shareholders Meeting, and voting can occur. As it stands, the proxy also authorizes someone else to vote in your place. If you sign the proxy, by default, your vote goes to the official slate.
YOUR BALLOT
Tying your ballot and proxy together takes away your rights as a shareholder to have a say in this building’s governance if you are unable to attend the meeting. It is possible, however, to separate your ballot so you can vote and assign your proxy for the meeting so that quorum is met and the Annual Shareholders Meeting can be held.
THE ANNUAL MEETING
While the Nominating Committee will recommend an “official slate” of candidates, at the actual Annual Shareholder Meeting, any shareholder can nominate another shareholder as a “floor nomination.” The Chair must recognize floor nominations, and their name must be included on the ballot. At that point, shareholders are able to vote for any nominee.
Here’s the problem
Most shareholders won’t know who these floor nominees are because they weren’t included in the “official slate” or had their bios published in the newsletter ahead of the meeting. We would like to provide a platform with equal opportunity for all interested.