The board is made up of 9 directors - 6 elected, 3 appointed. Both elected and appointed serve 3 year terms, elected need to stand for re-election every 3 years if they wish to stay on meaning 2 come up for re-election every year, while appointed can serve a maximum of 2 concurrent 3 year terms before needing to stand for election themselves. If no one challenges the two sitting elected directors then there is no election necessary (as with last year), if people do then we have an election as with this year.
Heff has served 2 concurrent terms in an appointed seat and decided he didn’t want to run for election against myself and Katie, so is stepping down. So he will shortly be replaced with an a new appointed director. For clarity, that person won’t be anyone who is challenging the incumbents at this election, or they wouldn’t be running.
The board won’t comment on the candidates publicly and will not involve itself in the election process at all, other than to provide the incumbents some clarity pre-nomination on whether the board as a group wants them to run again or feels they should step aside. To be very clear here, if the board didn’t want me to run again I absolutely would not have, as is expected.
We’re fortunate at this point that the board has an exceptional mix of skills that has the board desired skills matrix completely covered. That of course could all change in the next week or two, but if there is a gap identified at any point in the skill set of the board that can be addressed in a future appointed seat.
Hope that makes some sense.