The ERA Foundation Board
The Board combines a wealth of experience and deep knowledge of engineering, including the key technologies, education, and particularly the issues facing early-stage companies and the manufacturing sector.
Our Board believes in investment in innovation and in the education and training of the next generation of engineers and engineering leaders, without which any prospect of restoring and expanding the UK’s industrial base becomes unlikely.
Our Board
The Foundation’s directors give their time and expertise to ensure that our resources are deployed effectively in support of our mission. They bring diverse perspectives and extensive networks that enhance our ability to identify opportunities and deliver impact.
Governance
How We Are Governed
The ERA Foundation is a non-profit-distributing organisation, limited by guarantee, with the primary objective of applying our resources to the benefit of UK-based industry. The governance of the Foundation follows best practice and is bound by our Articles of Association. The Articles are the updated version of those established in 1922 for the Foundation’s parent organisation, the Electrical Research Association.
Board Structure
Responsibility for the Foundation’s operation falls to its Board, which meets at least four times per year. Directors are appointed for initial terms of three years and may stand for re-election for two further three-year terms. Extensions beyond this require a special resolution at a general meeting.
The directors appoint the Chairman for a three-year term, and the Chairman may be re-elected for a further two years. Further extensions require special resolution.
Financial Oversight
The Foundation’s financial year runs from 1 October to 30 September. Independently audited accounts are scrutinised by an Audit Committee before being lodged annually with Companies House.
Director remuneration is recommended by the Remuneration Committee, which comprises all directors other than the Chairman. Maximum ordinary remuneration is determined annually by the Members at the AGM.