STRUCTURE, GOVERNANCE AND MANAGEMENT
CONSTITUTION The Savoy Educational Trust was constituted under a Trust Deed dated 26th April 1961 and established by four directors of the then Savoy Hotel Limited as an unincorporated grant making charitable trust for educational purposes, mainly though not exclusively, in relation to the hospitality industry.
GOVERNANCE AND MANAGEMENT
The Trust’s deed prescribes its objectives and sets out a framework under which the Trustees and administrative staff govern the Trust’s affairs. The Trustees are appointed in accordance with the Trust Deed and are aware that they are responsible for the overall direction, effectiveness, supervision and accountability of the Trust.
TRUSTEES The Trustees who served during the year were as follows:-
Mr. S. May, FIH (C hairm n for the year 1 a
Mr. M.T. Parker, LVO Mr. R. Turpin, FIH Mr. R. Pajares, OBE, FIH Cllr R. Davis, DL, MA (Cantab)
Trustees are appointed by invitation from the existing Trustees to serve a 3 year term of office, but may be re-elected for succeeding terms. Terms of office were introduced to enable the Trust to continually audit the skill set of the existing Trustees in order to maintain a balanced board with the relevant and current skills, knowledge and expertise needed for their particular sector and to carry out the board’s strategic vision.
In accordance with good governance the Trustees also consider it appropriate to rotate the role of Chairmanship. The role commences at the start of each financial year having been voted upon by the Trustees at one of their quarterly meetings. The appointment is for an initial term of one year, although this can be extended if it is the wish of the Trustees.
INVESTMENT C MMITT O EE
In order to minimise administrative costs and benefit from economies of scale the Trust collaborates with the D’Oyly Carte Charitable Trust on matters of Fund Management. A joint Investment Committee comprising of representatives from both Trusts meets quarterly with the Fund Managers to review and monitor investment performance.
st April-31 st Marh 2 c 008)
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