Privatization of City & Guilds Raises Questions About Bonuses and Accountability
A recent deal that has cast a shadow over the privatization of City & Guilds has revealed the dark side of corporate greed. The 148-year-old vocational education charity, which holds a royal charter granted by Queen Victoria, was sold to a Greek-owned business, PeopleCert, with plans to slash costs and replace UK jobs with cheaper staff abroad.
At the heart of this controversy are the enormous bonuses received by City & Guilds senior staff, including CEO Kirstie Donnelly and CFO Abid Ismail. When the deal went through, they pocketed £1.7m and £1.2m respectively, sparking outrage among those who question the decision to pay such massive sums amidst a time of economic uncertainty.
The Charity Commission launched an inquiry into the deal, as did PeopleCert's own investigation, with Donnelly and Ismail placed on leave. The qualifications regulator, Ofqal, is also monitoring developments, and it remains to be seen whether they will answer questions about why these bonuses were paid.
Dame Ann Limb, chair of City & Guilds' trustees, is also under scrutiny. She stepped down as chair in December but has been embroiled in controversy after falsely claiming to have an MA and PhD. Her donation of £50,000 to the Labour party raises further questions about her suitability for this position.
Critics argue that profit-seeking businesses do not behave in the same way as charities, which by law must deliver a public benefit. The privatization of City & Guilds tilts the balance away from a social democratic view of education as a public good, and there are concerns that the new owners could raise fees charged to colleges and limit student options.
While PeopleCert's involvement in technical education is welcome, concerns remain about its motives. With £22m in savings planned, it remains to be seen how this will affect UK jobs and student options. The charity still holds assets of up to £200m, but it is unclear whether these funds will be used for the public good or to line the pockets of executives.
Ultimately, while the deal cannot be unpicked, delayed scrutiny and accountability are better than none. Donnelly and Ismail must explain their actions, and PeopleCert's true intentions should be made clear. The public deserves transparency and a commitment to delivering on the original purpose of City & Guilds – providing quality education and training for all.
A recent deal that has cast a shadow over the privatization of City & Guilds has revealed the dark side of corporate greed. The 148-year-old vocational education charity, which holds a royal charter granted by Queen Victoria, was sold to a Greek-owned business, PeopleCert, with plans to slash costs and replace UK jobs with cheaper staff abroad.
At the heart of this controversy are the enormous bonuses received by City & Guilds senior staff, including CEO Kirstie Donnelly and CFO Abid Ismail. When the deal went through, they pocketed £1.7m and £1.2m respectively, sparking outrage among those who question the decision to pay such massive sums amidst a time of economic uncertainty.
The Charity Commission launched an inquiry into the deal, as did PeopleCert's own investigation, with Donnelly and Ismail placed on leave. The qualifications regulator, Ofqal, is also monitoring developments, and it remains to be seen whether they will answer questions about why these bonuses were paid.
Dame Ann Limb, chair of City & Guilds' trustees, is also under scrutiny. She stepped down as chair in December but has been embroiled in controversy after falsely claiming to have an MA and PhD. Her donation of £50,000 to the Labour party raises further questions about her suitability for this position.
Critics argue that profit-seeking businesses do not behave in the same way as charities, which by law must deliver a public benefit. The privatization of City & Guilds tilts the balance away from a social democratic view of education as a public good, and there are concerns that the new owners could raise fees charged to colleges and limit student options.
While PeopleCert's involvement in technical education is welcome, concerns remain about its motives. With £22m in savings planned, it remains to be seen how this will affect UK jobs and student options. The charity still holds assets of up to £200m, but it is unclear whether these funds will be used for the public good or to line the pockets of executives.
Ultimately, while the deal cannot be unpicked, delayed scrutiny and accountability are better than none. Donnelly and Ismail must explain their actions, and PeopleCert's true intentions should be made clear. The public deserves transparency and a commitment to delivering on the original purpose of City & Guilds – providing quality education and training for all.
like seriously £1.7m and £1.2m in bonuses for the CEOs?!? how r they supposed 2 justify that 2 the public especially when it comes 2 a time of economic uncertainty? 
i mean im not saying corporate greed r new or anything but this feels like a total slap 2 the face 
what's even more sus is that one of the chairs is accused of having fake degrees and donating 2 the labour party 
like whats good rite?!? u need transparency & accountability here ppl 
. The fact that Dame Ann Limb is being scrutinized because of her fake degrees is just another example of how accountability is lacking in this whole situation 
. We need to know what's going on and who these people are really looking out for - the public or themselves? 
it's not right, especially when there's economic uncertainty going on.
claiming to have an ma and phd but it turns out she's just a fake 
and now she's donating £50k to the labour party? what a coincidence! 
. I guess it's all just a nice way to say "corporate greed is good"? 
that's like gettin paid to fail. and what about the £50k donation to Labour party by Dame Ann Limb? is she tryna buy her way into a seat on the board? 
what's most concerning is that this deal tilts the balance away from a social democratic view of education as a public good... it's all about accountability now 
. The thing is, when you privatize a charity like this, you're putting profits over people. It's not right, especially when it comes to something as important as education.
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. £1.7m in bonuses? Are you bloody kidding me?! It's like they're saying, "Hey, we've just sold the company to a greedy corp, but hey, our CEOs are still set for life, thanks!" 
It's all about lining their own pockets at the expense of students and hardworking teachers. 
. We already know what happens when profit takes over - quality education suffers. And let's not forget about the shady dealings with Dame Ann Limb, claiming fake qualifications? 
Give me a break.
. The public has a right to know how these £22m savings are going to be used and what kind of impact this will have on UK jobs and student options. Anything less is just corporate greed masquerading as "business as usual" 
.
people seem to think that just 'cause it's in the private sector, we gotta expect some sorta lower standard? 
It's just not right. And don't even get me started on the fake degree drama 
. We need people who genuinely care about education and making it accessible to everyone, not just the rich 
. Until then, let's keep an eye on these corporate sharks and make sure they're not biting off more than they can chew 
.
. And what really gets me is that these bonuses were paid at a time when UK jobs are being cut left and right 
. It's like they're more interested in lining their own pockets than doing the public good 
. PeopleCert can make money and still do good, right? But in this case, it seems like they're more interested in cutting costs and making a quick buck 
just saw that City & Guilds CEO Kirstie Donnelly got £1.7m in bonuses after selling out to a Greek-owned business 
it's all about lining pockets of execs instead of prioritizing education & training for all. 