22 April 2013
Following detailed discussions with the Government’s Department of Business, Innovation and Skills, the University Board has decided not to proceed with its proposal to convert the University into a Company Limited by Guarantee (CLG) at this point in time.
Commenting on the decision, Vice-Chancellor Malcolm McVicar said:
“The University has been consistent in saying it would only adopt this move if it was the right thing to do for the institution, its staff and its students. While we are confident that the move would be positive for the University as an organisation, allowing us to be suitably agile to make the most of our international ambitions, we still have some concerns around the impact on staff terms and conditions, including pensions.
“We have therefore decided not to proceed with the move at this point in time. Our preferred option is still for CLG status but we will only do this if it is the right choice for all parties and does not result in any increased costs to the University.”