I've been involved with trustees and trustee boards for 27 years, but the other day, I experienced a first.
Most trustee decisions are routine and nothing much to get excited about.
Whilst different people may have different views, generally they coalesce around a consensus position. Occasionally, and not unreasonably, there may be a benign disagreement where subjective judgement differs, but these instances pass by in reasonable compromise or with the quorum.
Very occasionally (perhaps half a dozen times in my 27 years) I've seen less benign disagreements, where a properly constructed decision was carried by a majority but one or two trustees were distinctly unhappy.In these cases, frankly, they either have to put up with it or resign – it comes with the turf (and, incidentally, it is completely pointless minuting "I disagree with that decision" as trustee boards are collectively responsible).
The other day however, I not only had a split decision, but, for the first time, I had to use the Chair's casting vote.
This blog first appeared on Pension Funds Online. To read the full post, please click here.