Melbourne Business School merger will not proceed
Sep 2009Melbourne Business School (MBS) today announced that the proposed merger with the University of Melbourne's Faculty of Economics and Commerce will not proceed.
MBS Chairman Mr Ron McNeilly said that, following consultation with members and having been advised by some members that they will vote against the resolutions, the Board of MBS had concluded that the resolution to approve the changes to the constitution of MBS would not be passed by the necessary majority. Approval of this resolution is necessary for the merger to proceed.
"In these circumstances, the Board has decided that it is not in the interests of MBS for members to be asked to vote on a resolution which will fail. We have been advised that the extraordinary general meeting scheduled for 7 October 2009 cannot be cancelled. However, the Board has decided not to propose the resolutions or put them to a vote," Mr McNeilly said.
"Ultimately the continued success of MBS depends on the support of its members, alumni, students, clients and the broader business community. The Board has accepted that without the overwhelming support of these stakeholders, a merger at this time would not be in the best interests of the School.
"Melbourne Business School will continue in its existing structure to provide the level of excellence for which it is known", he said.
The structure of the MBS Board will remain, with Mr McNeilly continuing as Chairman and Mr Geoff Allen as Deputy Chairman.
"The Board will continue to work with the School's leadership team to ensure the best future for the School. The School is in the fortunate position of having been established with a significant endowment, which acts as an ongoing investment that supports the School's range of programs", said Mr McNeilly.
"The University of Melbourne continues to have a 45 per cent interest in the School. MBS acknowledges the dedicated work and commitment of both MBS staff and University leaders to explore the merger. MBS will continue to work closely and constructively with the University and seek to further enhance the closeness of this relationship."
Mr McNeilly advised that the Board is pleased to confirm its support for Associate Professor Jenny George's ongoing leadership of the School.
For further information please contact Anastasia Kailis, MBS Corporate Communications +61 3 9349 8392 or mobile: +61 3 404 025 295 email: firstname.lastname@example.org