DIRECTORS of Maidstone and Mid Kent Chamber of Commerce have unveiled sweeping changes in the way the chamber is to be run following its recent financial crisis.

The restructuring follows the sudden disappearance of chief executive Bill Alder last year and the alleged theft of more than £27,000 of the chamber's money. Police investigating the alleged theft still want to speak to Mr Alder.

The loss of the £27,000 has heavily impacted on the chamber's cashflow and resulted in a pre-tax loss £26,400 at the end of the financial year to March 2002.

The restructuring will see the chamber ceasing to have a chief executive for at least six months. Instead, appropriate directors or members will carry out the chief executive's work.

Other changes will see Lake Communications taking over much of the day to day administration and marketing of the chamber. The company has been asked to reduce expenditure by 10 per cent and increase income by 10 per cent and will be paid according to performance.

The chamber also expects to benefit from an advantageous rental agreement from new landlords who are buying the chamber's rented premises in Westree Road, Maidstone. This will be partly in return for operating reception services at the building.

Details of the restructuring were unveiled at an extraordinary general meeting of the chamber held at Brachers solicitors, London Road, Maidstone, on Wednesday.

President Alan Reading said while the chamber was now trading in profit the loss of the £27,000 was still impacting on its cashflow. However Wednesday's meeting had been "very positive and upbeat".

Mr Reading said the decision to run the chamber without a chief executive, following the departure of Sean Randell when his contract expired last month, made good sense.

He said: "We do need to cut our cloth accordingly and this is part of a very good solution to do that.

"Hopefully everyone can see we have done as much as we can in every area of costs to really live within our means. Right at this point of time we don't believe we should afford a chief executive.

"We mustn't forget that Maidstone is the county town of Kent and it is very important to everyone that is involved in this restructuring that Maidstone has a chamber that is acceptable to its members.

"As far as our members are concerned there will be no changes to the facilities that members will get."