GFTU BGCM Minutes 2017

scheme. All final salary pension schemes, as we know, have got deficits. The

origin of those deficits is a subject of debate, but nevertheless they all have

deficits. If there was a bit deficit in the GFTU pension scheme, that would be

difficult for every other part of the organisation, but fortunately, because we

have put that in better order, the pension scheme has got a reduced deficit to

pay this year, which has eased a lot of the pressure on us going forward, at

least until the next triennial valuation. So we are in a better position financially

this year than we have been for some time. That has enabled us to look

forward to the debate that we have about the expansion of Quorn which we

have got on Tuesday.

The other thing we were keen to do as the organisation became more complex

with more and more parts of it was to fully professionalise the finance team and

that has been a big piece of work over the last two years and this is probably

where Wendy, our Head of Finance, comes in, because Wendy has been

working very hard to professionalise the whole financial management for the

organisation, so perhaps we should hello to Wendy for her first conference.

Give her a big clap. (Applause)

WENDY CHEUNG: Good afternoon. I have never been to any BGCM, I have never

thought I will have this opportunity standing in front of you to talk. I thought I

am only here to help out and, of course, join you for dinner. (Laughter) My

name is Wendy Cheung. I am the Head of Finance. We accountants mainly

work in the back office or behind the stage, never for once thinking I will be in

the spotlight, so this is overwhelming, this is truly the highlight of my career.

(Laughter )

I look after the finance team. I have high standards. I demand good work and I

expect jobs well done. I believe the key ingredients to be successful are hard

work, discipline and having the desire to be the best. Sometimes my team

drove me mad and sometimes I drove them mad, but, rest assured, none of us

require counselling, because most of the time we are wonderful to each other

and we get on very well. There are five of us in the team. They are always

trying their best to help and they are very capable and, most importantly, they

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