While some traditional clubs are shrinking, the peak body for company directors in Australia is growing and taking on some of the aspects of a club.
The Australian Institute of Company Directors (AICD) is now the largest body representing company directors in the world, recently eclipsing the membership of the UK body.
There are more than 35,000 members, an increase of about 50% in the last six years since John Colvin took over as CEO.
There are 230 staff working revenue of $56 million.
Part of the secret of the membership surge is the director training program, seminars and events created by the AICD. Over 12 months, 47,000 people attend AICD events.
Colvin, who is departing in January to be replaced as CEO by former NSW Opposition Leader John Brogden, took Business Insider of a tour of the new members’ lounge in Sydney.
There are lounges in Sydney, Melbourne, Canberra and soon to be one in Perth.
Access is exclusive to members and comes with the basic $560 annual membership fees.
The Sydney lounge is a bit like a city-based airline lounge but more intimate, with a calmer and less harried atmosphere.
There are high end coffee machines, good internet access and a range of meeting rooms topped by a large board room, all open between 8am and 6pm.
The lounge is at 20 Bond Street in the CBD, the same building which once housed the ASX.
A very large terrace off the lounge gives access to the AICD’s education centre where it runs the company director courses.
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