06-02-23.PRESIDENT'S REPORT.Electronic..Issue 2

Page 2

more about from members in their correspond ence with the Board and with me personally. We will also be planning a webinar to be moderated by our research partners at GGA to ensure that the wealth of data and information in the survey report is presented to members in a clear, com prehensive, and easy - to - process manner. Addi tionally, we are completing a capital reserve study and looking to engage GGA in the opera tional review. IMPORTANT CLARIFICATION I want to take a moment to address some mem ber concerns I have become aware of following Miles ’ remarks at the May Board meeting. His vision is for a modified senior management structure once we move into the new clubhouse, specifically the hiring of what he called a GM of Clubhouse Operations who would oversee day to - day Food & Beverage, Racquet Sports, Fit ness/Wellness, Housekeeping, and Valet/ Transportation operations, while also being the regular presence in the clubhouse ’ s dining ven ues that provides members with the regular ac cess to senior management. This is a position already in existence at many of our peer clubs in this region and around the country, and is widely seen as an essential role at clubs like ours which are making significant investments to ensure that our brand is once again synonymous with excellence in facilities and service. Miles ’ vision of adding this position to our management structure once we have the new clubhouse in place is therefore something I wholeheartedly support. The Board and I are unified in the idea that if Miles is to meet (and ideally exceed) our ambi tious expectations for taking Frenchman ’ s to the next level and beyond over the next 5 - 10 years, we must empower him to build a senior manage ment team that can ensure the high standards of service that members rightly expect in the club ’ s day to day operations. With this team in place, Miles has the bandwidth both to oversee current operations AND continue building the French man ’ s of the future.

Based on what the responsibilities of this posi tion will be, I would encourage you to think of this person as an Assistant GM (AGM) rather than a GM. I am hopeful that this clarification will address some of the concerns voiced since the Board Meeting about Miles ’ allegedly pro posing to hire someone to take over a portion of his own responsibilities, which I can assure you is a highly inaccurate characterization of our shared vision. Please be assured that your Board of Governors is committed to ensuring that Miles remains just as focused on club oper ations as he is now for years to come, even as we achieve higher and higher levels of excel lence. IN CONCLUSION There will always be issues and concerns to address, but it ’ s undeniable that Frenchman ’ s remains a wonderful place to live. And wherev er there are opportunities to enhance our ser vice offerings and improve operations, please rest assured that Management is fully commit ted to embracing these opportunities, and that the Board is fully supportive of their efforts.

Until we meet again, wishing you all a great summer.

Michael Azeez President

2023 Board Meetings

On the following Tuesdays at 2:30 p.m. via Zoom

June 20 July 25 August 22 September 26 October 24 November 28 December 19