Brian Cormack stepped down, Stuart Wallace elected

[loveofthegame]

Excellent candidate and will be a very welcome addition.

[Francis Albert]

So, FA opposition to Stuart then? ;-)

I have said before that Stuart sounded an excellent candidate and that I would be surprised if there were any other nominations.

 

In another piece of "nitpicking" I praised and thanked Brian Cormack when the announcement of his resignation was made.

 

But keep chewing on that bone if it pleases you.

[iainmac]

I have said before that Stuart sounded an excellent candidate and that I would be surprised if there were any other nominations.

 

In another piece of "nitpicking" I praised and thanked Brian Cormack when the announcement of his resignation was made.

 

But keep chewing on that bone if it pleases you.

He was the sole candidate so he had F *** A** opposition.

 

"You're so vain, you probably think..... "

[Jambof3tornado]

Always pleasing when things run smoothly.

[Francis Albert]

Well done Iain. You caught me and Kingantti 1874.

[iainmac]

Well done Iain. You caught me and Kingantti 1874.

No one even mentioned you.

 

LOL. Very quick edit there Francis.

[scott herbertson]

From my experience over many years, the Auditors I used to have to deal with were a shower of ******* ***** as well as being ******* and #####.

 

Thankfully I no longer have that chore.

 

I did an Auditors course many years ago to see what made them tick and the conclusion was they were *****.

 

 

...so in summary, auditors and you don't get on?

[Towzer]

Congratulations Stuart.

[Seymour M Hersh]

Perhaps someone can explain to me why it has been a coronation and no alternative candidate has appeared to create a contest? Not complaining in any way just curious.

[Hungry hippo]

Perhaps someone can explain to me why it has been a coronation and no alternative candidate has appeared to create a contest? Not complaining in any way just curious.

I think because it was obvious as soon as the FoH board backed Stuart that no one else had much of a chance especially when you take hos CV and work with Hearts into account too.

[Seymour M Hersh]

I think because it was obvious as soon as the FoH board backed Stuart that no one else had much of a chance especially when you take hos CV and work with Hearts into account too.

 

Fair enough. He seems to be an excellent choice. 

[davemclaren]

Perhaps someone can explain to me why it has been a coronation and no alternative candidate has appeared to create a contest? Not complaining in any way just curious.

Because no-one else wanted to stand or, if they did, couldn't get enough nominations.

[Francis Albert]

FoH invited nominations in the same communication it identified its carefully selected preferred candidate, At that point everyone knew anyone standing against that candidate was wasting his or her time, and the time and money of fellow FoH members.

 

Understandably FoH has evolved. When we first pledged and we started our subs, all FoH Directors were to resign within 3 months of a CVA being agreed. At that time the draft governance arrangements envisaged two types of available Director slots. One available to any who chose to stand, others "skill specific slots". For the latter, FoH would spell out the skills and experience required and invite suitable nominees from whom a list of eligible candidates would be chosen' The concept of FoH board nominees didn't exist.

 

Now one director a year stands down and the FoH board seemingly decides whether to have an open election or to propose its own nominee. who we all know will in practice be certain to be elected.

 

There is nothing wrong with this. It makes sense that new directors not only have the necessary skills but particularly where specific skills are required the new director is compatible with and can work together with the existing directors. It is less democratic but that is not in itself a bad thing.

 

What it does mean is that it is even more important that the FoH board (being to some extent a self-perpetuating body) is subject to governance processes that limit their power. For example it has to be part of the rules that decisions like the ?3m contribution to the new stand have to be put to a vote by the members and not just at the FoH Board's discretion.

 

Presumably the long awaited (at least by me)  consultation on governance will be coming soon.

[davemclaren]

FoH invited nominations in the same communication it identified its carefully selected preferred candidate, At that point everyone knew anyone standing against that candidate was wasting his or her time, and the time and money of fellow FoH members.

 

Understandably FoH has evolved. When we first pledged and we started our subs, all FoH Directors were to resign within 3 months of a CVA being agreed. At that time the draft governance arrangements envisaged two types of available Director slots. One available to any who chose to stand, others "skill specific slots". For the latter, FoH would spell out the skills and experience required and invite suitable nominees from whom a list of eligible candidates would be chosen' The concept of FoH board nominees didn't exist.

 

Now one director a year stands down and the FoH board seemingly decides whether to have an open election or to propose its own nominee. who we all know will in practice be certain to be elected.

 

There is nothing wrong with this. It makes sense that new directors not only have the necessary skills but particularly where specific skills are required the new director is compatible with and can work together with the existing directors. It is less democratic but that is not in itself a bad thing.

 

What it does mean is that it is even more important that the FoH board (being to some extent a self-perpetuating body) is subject to governance processes that limit their power. For example it has to be part of the rules that decisions like the ?3m contribution to the new stand have to be put to a vote by the members and not just at the FoH Board's discretion.

 

Presumably the long awaited (at least by me) consultation on governance will be coming soon.

I agree re good governance and oversight but someone could still have stood against the FOH board preferred candidate so it is entirely democratic.

[Francis Albert]

I agree re good governance and oversight but someone could still have stood against the FOH board preferred candidate so it is entirely democratic.

As with everything there are degrees. "Nominations are invited"  or even "nominations are invited from candidates with the following skills" is IMO more democratic than "this is our preferred choice but other  nominations are invited". Anyway I said I have no problem with the IMO  less democratic approach.

[iainmac]

As with everything there are degrees. "Nominations are invited" or even "nominations are invited from candidates with the following skills" is IMO more democratic than "this is our preferred choice but other nominations are invited". Anyway I said I have no problem with the IMO less democratic approach.

Unique set of circumstances due to the current Chair standing down. We've at at least 2 freely elected Board members in recent years, one unopposed (Barry) but 3 others stood against Louise.

[Francis Albert]

Unique set of circumstances due to the current Chair standing down. We've at at least 2 freely elected Board members in recent years, one unopposed (Barry) but 3 others stood against Louise.

What makes you think it will be unique? And when you say at least two you mean two. You can't have lost count already?

 

Anyway do you agree that governance should define what powers the FoH Board have and what they don't have without a membership vote. And that is more important to the extent that the board is in practice to some degree "self selecting"?

[iainmac]

What makes you think it will be unique? And when you say at least two you mean two. You can't have lost count already?

 

Anyway do you agree that governance should define what powers the FoH Board have and what they don't have without a membership vote. And that is more important to the extent that the board is in practice to some degree "self selecting"?

Nitpicking at its best there!

 

Anything that diverts funds from the original purpose should definitely go to a vote - as it did with the funding of the stand.

 

I don't think a prescriptive list of situations that will trigger a vote is required as it's unlikely to cover every eventuality - and then certain people would use that as a stick to beat FoH with.

 

Just my opinion.

[fabienleclerq]

I missed the comms but did candidates still need 25ish nominations? If so I think that needs revised.

[Francis Albert]

Nitpicking at its best there!

 

Anything that diverts funds from the original purpose should definitely go to a vote - as it did with the funding of the stand.

 

I don't think a prescriptive list of situations that will trigger a vote is required as it's unlikely to cover every eventuality - and then certain people would use that as a stick to beat FoH with.

 

Just my opinion.

Well that's one specific situation and whether there should be others is an issue for the consultation on governance on which you and I are of course entitled to our opinions.

 

You don't address the question of why these circumstances should be unique. Surely there will be other occasions when the Board loses a member whose specific skill sets and experience are invaluable. I certainly hope there will be a means of replacing him or her other than a simple open election. As I said in relation to Brian Cormack's replacement that seems to me very desirable.

 

As for my "nitpicking"  saying "at least two" when you know perfectly well there are only two is perhaps the opposite of nitpicking - needlessly obfuscating perhaps?

[Francis Albert]

I missed the comms but did candidates still need 25ish nominations? If so I think that needs revised.

Yes, it is still 25 nominations.

 

I don't think it is a big issue, As one (or should I say at least one?) candidate did last year, JKB will deliver up 25 nominations if you make a decent case for being a candidate.

[Buffalo Bill]

Stuart Wallace's election address is now up on the FoH website:

 

 

http://www.foundationofhearts.org/elections/

 

 

 

STUART WALLACE ? ELECTION ADDRESS

 

#fromthesefoundations

 

As a passionate supporter of Heart of Midlothian FC, it is a huge honour to be asked by the board of

the Foundation of Hearts to consider stepping forward as a candidate for Director at the Foundation

and, if elected, to take the role of Chairman. It is humbling to even think about it. The role of

Chairman is a huge responsibility, as we prepare to transfer the ownership of our great football club

from Bidco into the stewardship of our exceptional supporters. As Chairman, I will be accountable

for ensuring that transfer takes place in a smooth and orderly fashion.

The transfer will bring a huge collective responsibility to safeguard the club from the trials of the last

few years. I feel strongly that, having built solid foundations, it is now time for us to look up, look

forward and embrace change. Together we have created one of the biggest supporter movements in

British sport and our strength should not be underestimated. The impending transition will set the

tone as we move forward; put simply: how big are our dreams? I see my role as representing the views

of the fans and making sure that our voice is heard in the boardroom. It will be my job to ensure that

the club is even stronger after the transfer of ownership than it is today. I believe that engagement with

supporters is crucial in order to achieve that goal. I truly believe there is a next level to Heart of

Midlothian and having seen this period of rebuilding, the Foundation now has a crucial role to play in

helping us to achieve that next level.

 

#westaywebuild

 

I am a tax specialist by profession. Based in Edinburgh, I lead the UK tax compliance team at PwC

LLP, where I am a senior tax partner. Previously, I have worked at HM Revenue & Customs, and I led

PwC?s Midlands Region Tax business between 2011 and June 2016. I qualified as a Chartered Tax

Adviser in 1997. My tax compliance team assists clients with their compliance obligations, from large

multi-national businesses and major UK PLCs to high net-worth individuals. I have engaged at board

level with Fortune 500 companies through to small family-owned businesses. In the early days of the

Foundation, I worked with it to ensure that our affairs were structured with proper regard to the

strength and reputation of the Heart of Midlothian brand.

 

#sinceiwasyoung

 

Despite having lived and worked away from Scotland for the last 15 years, I have remained a dedicated

season ticket holder at Tynecastle. I am a third-generation supporter of Heart of Midlothian FC and

have created a fourth generation of fans with all four of my children joining in the fun, as well as an

extended family of supporters. I am a keen, if average, golfer, a fair-weather fisherman and a family

man. Since returning to the Lothians this year, I am much more of a regular face at Tynecastle and

occasionally in the Diggers beforehand. I can?t imagine where I?d rather be on a Wednesday night than

under the lights in the Wheatfield stand.

I have worked incredibly hard for the accomplishments I?ve achieved in my professional career, and I

believe that my ?sleeves up, get on with it? attitude has brought success, but to be Chairman of the

Foundation would be the greatest honour of all.

[Punks No Deid]

Stuart Wallace's election address is now up on the FoH website:

 

 

http://www.foundationofhearts.org/elections/

 

 

 

STUART WALLACE ? ELECTION ADDRESS

 

#fromthesefoundations

 

As a passionate supporter of Heart of Midlothian FC, it is a huge honour to be asked by the board of

the Foundation of Hearts to consider stepping forward as a candidate for Director at the Foundation

and, if elected, to take the role of Chairman. It is humbling to even think about it. The role of

Chairman is a huge responsibility, as we prepare to transfer the ownership of our great football club

from Bidco into the stewardship of our exceptional supporters. As Chairman, I will be accountable

for ensuring that transfer takes place in a smooth and orderly fashion.

The transfer will bring a huge collective responsibility to safeguard the club from the trials of the last

few years. I feel strongly that, having built solid foundations, it is now time for us to look up, look

forward and embrace change. Together we have created one of the biggest supporter movements in

British sport and our strength should not be underestimated. The impending transition will set the

tone as we move forward; put simply: how big are our dreams? I see my role as representing the views

of the fans and making sure that our voice is heard in the boardroom. It will be my job to ensure that

the club is even stronger after the transfer of ownership than it is today. I believe that engagement with

supporters is crucial in order to achieve that goal. I truly believe there is a next level to Heart of

Midlothian and having seen this period of rebuilding, the Foundation now has a crucial role to play in

helping us to achieve that next level.

 

#westaywebuild

 

I am a tax specialist by profession. Based in Edinburgh, I lead the UK tax compliance team at PwC

LLP, where I am a senior tax partner. Previously, I have worked at HM Revenue & Customs, and I led

PwC?s Midlands Region Tax business between 2011 and June 2016. I qualified as a Chartered Tax

Adviser in 1997. My tax compliance team assists clients with their compliance obligations, from large

multi-national businesses and major UK PLCs to high net-worth individuals. I have engaged at board

level with Fortune 500 companies through to small family-owned businesses. In the early days of the

Foundation, I worked with it to ensure that our affairs were structured with proper regard to the

strength and reputation of the Heart of Midlothian brand.

 

#sinceiwasyoung

 

Despite having lived and worked away from Scotland for the last 15 years, I have remained a dedicated

season ticket holder at Tynecastle. I am a third-generation supporter of Heart of Midlothian FC and

have created a fourth generation of fans with all four of my children joining in the fun, as well as an

extended family of supporters. I am a keen, if average, golfer, a fair-weather fisherman and a family

man. Since returning to the Lothians this year, I am much more of a regular face at Tynecastle and

occasionally in the Diggers beforehand. I can?t imagine where I?d rather be on a Wednesday night than

under the lights in the Wheatfield stand.

I have worked incredibly hard for the accomplishments I?ve achieved in my professional career, and I

believe that my ?sleeves up, get on with it? attitude has brought success, but to be Chairman of the

Foundation would be the greatest honour of all.

Sounds like the words of the very fellae for the job in my humble opinion

[TNCASTLE]

I should really start by saying that Stuart Wallace is not only my cousin, but he?s also my closest friend. Thus, I am a bit biased. However, I?ll honestly say that I can?t think of anyone that I know who I think would be better suited for this role. Stuart, if elected, would make an excellent chairman of FoH.

 

Stuart has been pretty much under the radar so far. In November 2012, when the Romanovs threatened to shut the club down, the Foundation of Hearts went public. At that point, I hadn?t heard of the FoH, but immediately upon hearing a radio interview with Alex Mackie, I got in touch with Stuart and asked him to contact the foundation to see if there was anything he could do. Thankfully he did and he?s been part of it ever since, giving expert advice on tax, and other areas of finance and constitutional matters.

 

Stuart Wallace is a really intelligent guy, and he?s incredibly passionate about HMFC. He has risen to the top in one of the world?s biggest firms of business advisors. Not bad for a boy who grew up in Howden. What?s more, he's s commercial guy who knows how to make money. I suspect he will have many fresh ideas for the foundation and he?ll ensure that the transition into ownership will be smooth and successful. What I like most about Stuart is that like me, he believes that there is a next level to Hearts. He wants everyone associated with the club to have a winner?s mindset. He wants Hearts to play attacking football, and winning football. He wants Tynecastle packed out every match. He wants the business to grow, enabling us to increase our wage bill that will allow us to compete for trophies, yet at the same time, ensure that we live within our means, and never getting into financial difficulty again.  

 

I?ve known Stuart all my life and for over 20 years now, we?ve become close friends, and now near neighbours. Stuart is a frank and honest guy; friendly, approachable and professional. Yet his gracious demeanour should not be mistaken for weakness. He doesn?t suffer fools gladly, and he will make positive changes to anything he sees needing improved. We will be in great hands if Stuart takes over.

 

A word on Brian Cormack:

 

Brian is a first class guy and a real gentleman. He has done a fantastic job at the foundation and as a result: the club. I hope that he can play a major role for the club again some time in the future. I am grateful for the work he did in helping save the club, and returning it to health. The Foundation of Hearts is the greatest fans movement in Scottish football. If you haven?t already pledged, please visit the foundation?s website. It?s never too late?

 

http://www.foundationofhearts.org/

 

We are now on the brink of another new era. With the new stand, our bigger, better stadium will seal its reputation as being the most unique, the most iconic, and the most atmospheric ground in the country. The new facilities will help generate cash that will enable us to compete at the top end of the table. We have the finest training facilities in the country, possibly in the UK. Our new head coach and his assistant are two of the most highly-rated individuals in football. The team is doing well. And most of all we have incredible supporters that are part of what is a truly large fan base.

 

When I started following Hearts, we were pulling in crowds of 5,000 and couldn?t even get out of the old First Division. I remember too those poor years in the early 90s when we hovered near to the bottom of the league, and of course 2012/13 and 13/14 when the club almost died. Stuart Wallace watched those times too. In fact, he?s a wee bit older than me and attended some game back in January 1973 in which I think the opposition might?ve scored four offside goals and got another three against the run of play.  I?m confident that we won?t go through that, or suffer any of those other bad times again. Good people running the club? That?s all we?ve ever needed.

 

Heart of Midlothian FC is 142 years old. But I feel like this is just the beginning.

I hope Stuart can encourage the club to seek "proper" sponsorship as I believe this has not, and never been properly addressed.

I know that Brian was motivated in this area as he acted as a conduit between supporters ideas and the Club.

There is a plethora of opportunity out there what with the history, following and Edinburgh itself.

I am personally both surprised and disappointed that the Club has not seriously pursued this goal. It makes me ill watching other clubs achieve sponsorships that at 10% of their level ( quite achievable) would change us into a very big player in Scotland.

To reiterate I do hope Stuart is motivated in this way AND can convince the current governance that moving in this direction really moves us forward. I know the club are risk averse which is understandable given the ruinous financial history. The sooner they realise we have something unique and valuable to sell the better however. If we think nickel and dime, we will always be that.

 

I met Stuart at the cup final with you correct?

[scott herbertson]

Stuart Wallace's election address is now up on the FoH website:

 

 

http://www.foundationofhearts.org/elections/

 

 

 

STUART WALLACE ? ELECTION ADDRESS

 

#fromthesefoundations

 

As a passionate supporter of Heart of Midlothian FC, it is a huge honour to be asked by the board of

the Foundation of Hearts to consider stepping forward as a candidate for Director at the Foundation

and, if elected, to take the role of Chairman. It is humbling to even think about it. The role of

Chairman is a huge responsibility, as we prepare to transfer the ownership of our great football club

from Bidco into the stewardship of our exceptional supporters. As Chairman, I will be accountable

for ensuring that transfer takes place in a smooth and orderly fashion.

The transfer will bring a huge collective responsibility to safeguard the club from the trials of the last

few years. I feel strongly that, having built solid foundations, it is now time for us to look up, look

forward and embrace change. Together we have created one of the biggest supporter movements in

British sport and our strength should not be underestimated. The impending transition will set the

tone as we move forward; put simply: how big are our dreams? I see my role as representing the views

of the fans and making sure that our voice is heard in the boardroom. It will be my job to ensure that

the club is even stronger after the transfer of ownership than it is today. I believe that engagement with

supporters is crucial in order to achieve that goal. I truly believe there is a next level to Heart of

Midlothian and having seen this period of rebuilding, the Foundation now has a crucial role to play in

helping us to achieve that next level.

 

#westaywebuild

 

I am a tax specialist by profession. Based in Edinburgh, I lead the UK tax compliance team at PwC

LLP, where I am a senior tax partner. Previously, I have worked at HM Revenue & Customs, and I led

PwC?s Midlands Region Tax business between 2011 and June 2016. I qualified as a Chartered Tax

Adviser in 1997. My tax compliance team assists clients with their compliance obligations, from large

multi-national businesses and major UK PLCs to high net-worth individuals. I have engaged at board

level with Fortune 500 companies through to small family-owned businesses. In the early days of the

Foundation, I worked with it to ensure that our affairs were structured with proper regard to the

strength and reputation of the Heart of Midlothian brand.

 

#sinceiwasyoung

 

Despite having lived and worked away from Scotland for the last 15 years, I have remained a dedicated

season ticket holder at Tynecastle. I am a third-generation supporter of Heart of Midlothian FC and

have created a fourth generation of fans with all four of my children joining in the fun, as well as an

extended family of supporters. I am a keen, if average, golfer, a fair-weather fisherman and a family

man. Since returning to the Lothians this year, I am much more of a regular face at Tynecastle and

occasionally in the Diggers beforehand. I can?t imagine where I?d rather be on a Wednesday night than

under the lights in the Wheatfield stand.

I have worked incredibly hard for the accomplishments I?ve achieved in my professional career, and I

believe that my ?sleeves up, get on with it? attitude has brought success, but to be Chairman of the

Foundation would be the greatest honour of all.

 

 

I take it our tax bill will be well nigh non-existent from now on

[Buffalo Bill]

I met Stuart at the cup final with you correct?

 

Yes.

[Walter Kidd]

Although I still have grave reservations on the whole Bidco/Fanco deliverables, Stuart's appointment seems a good one.  We are only one bad season away from disaster in my opinion as the 8,000 or so pledgers are in my opinion mainly Hearts "core" support.  If we lose the 8,000 season ticket holders who currently sell out Tynecastle every week who do not pledge, we could find ourselves in a very big hole.

 

While this is worse case scenario, we should plan for it in my humble opinion.

[loveofthegame]

Sounds like the words of the very fellae for the job in my humble opinion

 

Don't know the man but completely agree. Very very well qualified and a real Jambo to boot.

[The Treasurer]

Although I still have grave reservations on the whole Bidco/Fanco deliverables, Stuart's appointment seems a good one.  We are only one bad season away from disaster in my opinion as the 8,000 or so pledgers are in my opinion mainly Hearts "core" support.  If we lose the 8,000 season ticket holders who currently sell out Tynecastle every week who do not pledge, we could find ourselves in a very big hole.

 

While this is worse case scenario, we should plan for it in my humble opinion.

One bad season would not see ST numbers halved, in fact it's possible that, with the right pricing, next season could see an increase with the interest in the new stand

Also a lot of pledgers are not ST holders anyway due to living overseas etc. 

[RealMaroonCF]

Walter I hate to say it mate but that statement is hibs-esque

 

This is the age of the all in supporter. The thick and thin, never let your club out of your sight or your heart and protect it for many generations to come

 

The last few years have brought our core numbers up. If we start to slide toward hobo " go when we're winning" then it's true, we may aswell let our club go.

 

We are the heart of Midlothian. Every new supporter born into our traditions should be made aware of what WE , the fans of the last few years have done to keep our club alive. They should be encouraged and honoured to maintain that for their future generations.

 

I will be a foundation member forever. I think many others would raise their hands and say likewise

 

 

 

Stuart. Great words.

[132goals1958]

One bad season would not see ST numbers halved, in fact it's possible that, with the right pricing, next season could see an increase with the interest in the new stand

Also a lot of pledgers are not ST holders anyway due to living overseas etc. 

 

Indeed --- also a lot of pledgers have kids  who are season ticket holders and are  likely to join the foundation in the future.

[Buffalo Bill]

Video interview with Stuart.

 

 

https://www.youtube.com/watch?v=U_11O5rCatE

[Watt-Zeefuik]

Sounds like we have reason to thank BB for getting Mr. Wallace involved in FoH. 

 

Very happy with all of this so far.