The Canadian Medical Association Board of Directors has unanimously approved a restructuring of its governance structure.
The restructuring creates a new subsidiary (currently known as NewCo) that will contain the revenue-generating areas of the CMA including cma.ca, publishing operations (including CMAJ), clinical tools and accreditation services. In the new model, the CMA will focus on advocacy and policy and continue its close collaboration with provincial/territorial medical associations and affiliated medical societies.
The move has been made to address a number of strategic opportunities and is designed to better deliver a more unified member value proposition. The changes will have no immediate impact on the type and quality of services currently being delivered to CMA members.
The restructuring also approved creation of a new Canadian Medical Association Holdings (CMAH) Board of Directors that will play an integrating role between CMA, MD Physician Services and NewCo. MD Physician Services remains unchanged as a subsidiary providing financial services to members.
“The change to the CMA governance structure and the creation of a CMAH Board of Directors and a new subsidiary – ‘NewCo’– address a number of strategic opportunities that will enable the CMA to more sharply focus on advocacy on behalf of physicians and the profession,” said Dr. Brian Brodie, the Chair of the CMA Board of Directors. “The creation of this new entity more accurately reflects CMA’s value proposition: advocacy, knowledge services and financial services.”
The search for a CEO of NewCo will be aligned with the CEO search for CMA.
The search for a CEO of NewCo has begun. The aim is to have a successful candidate identified by CMA’s December Board meeting.