The TSO Network Board of Directors met on January 26, 2014 for their first meeting of the new year. During this meeting they discussed the changes in the member advertising agreement that were approved during their November 10, 2013 meeting.
Upon recommendation of the Board’s Advertising Committee, the board has delayed implementing the adjustment from 1.25% for the network component to 2% to July 1, 2014. This means that the local advertising component change from 3.75% to 3% will
go into effect with contributions made based on sales during July 2014 and due no later than August 20, 2014.
The Advertising Committee made this recommendation to allow time for the new advertising agency, Love Advertising, to develop recommended local advertising, public relations and marketing strategies to be used by network members. It also provides time for members to receive, understand and return the necessary agreement amendment required to effect this change in distribution
of the 5% advertising contribution.
The Board affirmed that the Local Advertising Policies and Guidelines that were also approved during the November 10, 2014 meeting will be in effect beginning January 1, 2014. A copy of these new policies and guidelines are available for download in the Publications & Forms – Forms and Manuals section of the TSO Network Update website member area.
The board appointed both nomination and search committees to review prospective candidates for nomination to the board of directors and for consideration for the network’s new president. They also approved moving the annual shareholder meeting from December to June when it will be held as part of the network’s annual conference Vision Quest.
Director terms will now run July 1st through June 30th of each year. A shareholder election will be held during Vision Quest to elect directors to fill the positions for which their three year term has expired. This year an election will be held to elect three non-shareholder or Outside Directors to the TSO Board of Directors.
The board set its next meeting to be held in Houston on Wednesday, March 26, 2014.