Statement from the Board 31 January 2019

The Board considered the issue of Life Memberships and decided to remove the Life Memberships of the previous CEO, Alex Malley and previous Directors Penny Egan, Richard Petty and Graeme Wade, effective 31 December 2018. The Board’s decision was under Article 43(b) of the Constitution.

The process following the December Board meeting was to notify these individuals of the decision and their removal from the Life Member register effective 31 December 2018.

The first Board meeting for 2019 is scheduled for tomorrow, 1 February and the Board was due to finalise the next steps and to communicate this matter to all members.

However, yesterday we received an email from the Australian Financial Review asking us to confirm the life memberships for the individuals named had been revoked. For your information, we provided the journalist with the following statement:

“At the December Board meeting, the Board agreed to exercise its power under the Constitution to remove life membership from Alex Malley, Richard Petty, Graeme Wade and Penny Egan. Part of that process required the Board to notify the individuals, which has been done. The Board is due to meet this Friday, at which time the communication to members was to be approved.”

It was the Board’s intention to have communicated on this matter to members directly prior to it becoming public.

Peter Wilson AM FCPA

President and Chair
On behalf of CPA Australia’s Board of Directors