Dear fellow Vectum members,
On Tuesday, February 2 2021, 19:00, Vectum is hosting an online Q&A session via Zoom to inform members on the results of the restructuring negotiations with SCOPE Maastricht. These negotiations were carried on by the current Vectum board after transitioning from the previous board. After months of negotiations, we are proud to report that we have reached an agreement with SCOPE Maastricht that we both believe respects the conditions of the two parties.
Why a restructuring?
In 2017, the study associations SCOPE | Economics, SCOPE | 3MA, SCOPE | Focus, and SCOPE Maastricht merged to form the new faculty-wide association SCOPE Maastricht. SCOPE | Vectum, which eventually changed its name to Vectum in agreement with SCOPE Maastricht, did not participate in this merger. Instead, Vectum has maintained its independence in order to retain its specific focus towards the target audience of Econometrics & Operations Research. Since the initial merger, both parties have agreed on short-term arrangements to define their relationship on a yearly basis. In response to this, the SBE Board expressed its aim for both parties to agree on a long-term arrangement that is legally binding and lays the foundation of their relationship for the following years to come.
What is the restructuring?
Under the proposed arrangement, Vectum would establish itself as a subsidiary study initiative of SCOPE Maastricht with its own board, committees, target audience, finances, external affairs, and public relations. Other study initiatives at SBE already have this type of status. However, SCOPE Maastricht, as the faculty association, has the responsibility towards the SBE to supervise and ensure that all subsidiaries are managing their affairs appropriately. This means that SCOPE Maastricht would require Vectum to undergo financial and strategic audits to verify whether the Vectum board is performing its tasks responsibly in the best interest of their target audience. This is a compromise that we believe is fair to both parties. The explicit details of this arrangement will be presented at the Q&A session.
What comes next?
This Q&A session is scheduled a week before the Vectum Semi-Annual GMA. All current Vectum members are invited to attend the Q&A session, in addition to the Vectum Board of Advice, the current SCOPE Maastricht Board, the SBE Student Representative, and members of the KE Department. At the online Vectum Semi-Annual GMA on February 9, 2021, 19:00, Vectum members will have the opportunity to decide whether the proposed arrangement can go into effect.
If you would like to attend the Q&A session, please sign up below using the button below or with the following form
Throughout these discussions with SCOPE Maastricht, which I have experienced as cooperative, respectful, and productive, the best interest of Vectum has always been my utmost priority. With this step forward in the negotiations, I hope that we can seize this opportunity to create a future that is mutually beneficial to all parties involved.
Met vriendelijke groeten,
Kind regards,
Frederick Hagelstein
President
2020-2021 Board of Vectum