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Minutes of the 2021 Business Meeting of the 1818 Society

The 43rd Annual Meeting
October 28, 2021


1. General

Inder gave a comprehensive overview of the activities of the Society. He explained that the Society has continued to operate as it had prior to the lockdown, and that the SRP and RMIP Committees have done a commendable job. The Bank’s pension and health insurance plans continue to perform robustly, and the Society continues to enjoy a good business relationship with Senior WBG management, and with the Bank’s Treasury Vice Presidency, Human Resources Vice Presidency and GCS (the former GSD).

2. Financial Statements

Adrienne Guerrero, the Society’s Treasurer, provided an overview of the Society’s 2021 unaudited financial statements (up to September 30, 2021), including its balance sheet and income statements. She explained that net income was down in 2020 and 2021 due to a decline in new membership, as compared with 2019 when there was an increase in membership resulting from redundancies at IFC that year. Expenses were lower too. The Society’s net income contributed to increased reserves that stand at $220,657 as of September 30, 2021. A copy of the Society’s financial statements for years 2019, 2020 and 2021 (up to September 30, 2021) is posted here (login required).

3. In Memoriam

As in the past, members observed silence to pay respect to those colleagues we lost in the previous 12 months.

4. Board of Directors and Presidential Elections

(a) Hadi informed the meeting that the Directors Nominating Committee (DNC) was comprised of: Hadi Abushakra (chair), Pauline Ramprasad, Anis Dani, Gail Davenport, Adrienne C. Guerrero, Yasmin Saadat, and Lesley Shneier. After soliciting expressions of interest from the membership for the five vacancies on the Board of Directors, the DNC received applications from only five members. Three of those were incumbents seeking a second term (Zoe Kolovou, Lee Meddin, and Dennis de Tray) and the two others were Maryvonne Plessis-Fraissard and Mark Walker. After screening the five candidates and reviewing their qualifications, the DNC considered all five to be qualified and meeting the established criteria. It thus recommended the three incumbents for a second term, and Maryvonne Plessis-Fraissard and Mark Walker as the new members of the Board of Directors.

(b) Hadi further informed the meeting that the Presidential Nominating Committee (PNC) was comprised of: Shawki Barghouti (chair), Elizabeth Adu, Brenda Bermudez, Tom Blinkhorn, Kevin Cleaver, Paula Donovan, Norman Hicks, Dirk Mattheisen and Maryvonne Plessis-Fraissard. It received three expressions of interest. After interviewing all three candidates, it recommended two candidates as meeting the pre-announced requirements for the position, but one of those subsequently withdrew his candidacy. Anis Dani, the sole remaining candidate recommended by the PNC was deemed to have been elected and is thus declared the next President of the 1818 Society.

(c) Inder congratulated Anis and welcomed the new Directors on board. He also thanked the two departing Directors (Dirk Matthiessen and Fons Marcelis) for their services.

5. Vote of Confidence for Anis Dani

(a) Anis took the floor and, at the end of his statement asked for a vote of confidence. Given the controversy surrounding his election, Anis stated that he could not feel legitimized unless he received a majority support from members, and that he would resign his position if he did not.

(b) The vote was conducted and the vote count at the Business Meeting showed that Anis had received 615 votes cast in person and by proxy, with 14 NO votes and 202 abstentions.

6. Motion to Nullify the PNC’s Recommendations

One member moved to nullify the outcome of the PNC’s recommendations. The motion was not seconded. The Chair ruled the motion to be out of order noting that the Bylaws do not permit members to overturn the results of an election conducted in accordance with the Bylaws.

7. Motion to Establish a Task Force to Review the Society’s Bylaws

(a) The Chair recognized Morallina George who moved to adopt the motion set forth below. Paul Cadario seconded Morallina’s motion.

(b) Morallina’s motion did not pass. The vote count at the Business Meeting showed that Morallina’s motion had garnered 207 votes in person and by proxy, with 581 votes against it and 9 abstentions.

8. Alternative Motion to Establish a Task Force to Review the Society’s Bylaws

(a) The Chair recognized Kevin Cleaver who moved to adopt the motion attached below. Alain Locussol seconded Kevin’s motion.

(b) Kevin’s motion passed. The vote count at the Business Meeting showed that Kevin’s motion had garnered 602 votes cast in person and by proxy, with 61 votes against it and 195 abstentions.

9. Conclusion of Meeting

The meeting concluded with a vote of thanks to all the volunteers, particularly to the Society’s office staff, Brenda Bermudez and Dennis Bacani, for their overall support, especially their outstanding administrative and technical support at the meeting.

 

Hadi Abushakra
Board Secretary