Woodward hails progress in making BPIF 'fit for purpose'
By Jenny Roper Friday, 13 July 2012
Chief executive Kathy Woodward has credited the BPIF with making "great achievements" in important areas for improvement identified at last years' AGM.
Speaking at the BPIF AGM on Wednesday (11 July), Woodward said that the relocation of the BPIF from its former Farringdon Point headquarters to Hooper Street was a key success, and would save the association £1m over the next three years.
She also pointed to the restructuring of the board and strengthening of regional divisions as a tough but necessary measure in making the association "fit for purpose".
"I thought this year was going to be a white knuckle ride but it hasn’t been," she said of this significant restructuring of the body. "Now absolutely everybody is bringing fresh ideas and innovation. Everyone on the board has made really strong contributions."
Woodward also highlighted the steps taken by the BPIF over the last year to respond to a desire from members for increased networking opportunities, training and development programmes and for the body to engage in more lobbying activities.
"We mapped out who we needed to network with and then set about letting government know that this is a highly technological, highly creative industry that, employing 100,000 people, is one of the largest in the UK," she said.
These are all key areas, added Woodward, that the BPIF would continue to commit to over the next year, which will see the launch of a new Executive Exchange portal where print professionals can upload CVs; a new graduate level management qualification; and, in the autumn, the availability of individual membership.
In the year to 31 March 2012 BPIF generated a net surplus of £3,000 compared to a net loss the previous year of £268,000, after exceptional costs of £262,000 - largely related to relocation and exit costs from breaking the lease for Farringdon Point.
The FSR 17 deficit on the closed salary pension scheme increased from £884,000 in the previous year to £1.1m due to a reduction in the Pension Fund Investment portfolio caused by the recession.
Finance director Michael Gardner said that a 16-year payment plan to clear the pension liability had been agreed with the trustees, and that the BPIF had agreed an overdraft facility with Barclays of £180,000 as required.
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