GDT proposes to increase Oversight Board member terms to three years.
Clause 2.5 of the GDT Events Oversight Board Charter specifies that members of the Oversight Board are appointed for two-year terms. In consultation with the Oversight Board, Global Dairy Trade proposes that the Clause 2.5 of the Charter be amended to specify that members be appointed for three-year terms.
The purpose of making this change is to mitigate the effects of the current two-year term which can result in too much turnover of members. The main downside of lengthening the appointment term is that it will take longer for any changes in relative trading positions to be reflected in the Board membership.
The proposed change would take effect for the appointment of members with terms beginning 1 January 2018.
Any interested party may make a submission on this proposed change by sending an email by 23 October 2017 to email@example.com with the subject line “Feedback on proposed change to appointment terms”.