W. Graeme Roustan Resigns as CWHL Member/Governor and Withdraws Financial Support on November 26, 2018

LETTER POSTED AT ROUSTAN.COM

Dear Directors and Nominees at the November 27, 2018 AGM,

As the current longest serving Member and financial contributor to the CWHL that dates back more than ten years to the time when the league was formed, for the very first time the Board has refused to allow me to see the Directors and other expenses. 

Specifically I want to see what travel by any Director has been reimbursed when only executives should be conducting the business of the CWHL. Directors must not act as management. In addition, I want to see that all legal expenses were incurred for the direct operation of the business of the CWHL and not for the actions of any Director.

Mike Strickland, the CWHL attorney wrote to me: “No additional financial information, including the information requested below, will be provided.”   This raised a red flag and caused me to contact other professionals in the industry, professional associations and government agencies.

As a governance accredited professional, I believe transparency by a non-profit to ALL of its Members is the cornerstone of best practices in corporate governance and without it, misappropriation and misdeeds are more possible within any organization.

As you know, Directors are liable for their personal actions and are liable for the actions of the organization. As the past Chairman of a publicly traded company and a Speaker at many industry conferences, I always advise incoming Directors to get a copy of the Directors & Officers policy and to consult their own attorney prior to joining any Board and you all should.

In the past year or two, the CWHL has seen the resignations of so many “Governors”, Members and Directors who have opened doors for the CWHL since 2008 and cut checks when the league needed cash at the end of each season. These resources should have been nurtured and built upon rather than be ignored and cast aside and was a big mistake.

The past Commissioner informed me that I was the single biggest financial and other contributor to the CWHL since its formation and I take great pride in that. I did this because of the transparency and best practices in corporate governance that past Boards displayed to me. 

It is my assessment that the current Board with all of its in-camera Executive Committee meetings and refusal to provide their expense reports and other financial detail have taken the opposite approach from all past CWHL Boards. 

I signed on in 2018 to support the CWHL, its Commissioner, the Chair and the Board but cannot support the current Chair and the Directors on the Executive Committee.

For the refusal to provide details on any money or benefits that Directors personally may have received, I will no longer financially support the CWHL and hereby resign as a Member of the CWHL.

Sincerely,
W. Graeme Roustan