It is not uncommon for a strata management company to be sold or for a portfolio to be sold and transferred to another agency. The terms & conditions of your existing agreement will determine the process for how this should happen.
The standard agreement from Strata Communities Australia has the following relevant clause;
7. Transfer of the agreement
7.1 The agent cannot transfer the agreement without the written consent of the owners corporation, which consent shall not be unreasonably withheld if the agent satisfies the owners corporation that the proposed transferee and related persons are fit and proper persons and have the qualifications, competence and experience to perform the agreed services and additional services at an agreed services fee and an additional services fee not greater than the current agreed services fee and additional services fee.
7.2 The owners corporation must advise the agent of its decision whether to approve a proposed transfer within 28 days after receiving from the agent the information reasonably necessary to make the decision.
7.3 If the owners corporation approves the transfer, the owners corporation, the agent and the transferee must enter into a transfer agreement, or alternatively if the agent elects to enter into a new agency agreement then clause 7.5 will apply.
7.4 For the purposes of clause 7.1 to 7.3 (inclusive) the parties agree that “consent of the owners corporation” can be provided by the Executive Committee, unless the Act is amended to expressly provide that approval of the owners corporation for transferring the functions of a strata managing agent requires a resolution at a general meeting of the owners corporation.
7.5 After the transfer agreement has been entered into or, if an election has been made by the agent under clause 7.3 the new agent must request that the owners corporation enter into a new agency agreement, and the owners corporation must advise the new agent of its decision to enter into a new agency agreement within 28 days after such request, such approval not to be unreasonably withheld if the new agency agreement is on the same terms as this agreement, or on terms not less favourable to the owners corporation as this agreement. The new agent must pay the reasonable cost of preparing the new agency agreement, preparing and holding the meetings of the executive committee and the general meeting of the owners corporation, however if the meeting relates to more than approval of the minutes of the last meeting and the resolution relating to the new agency agreement, then the new agent must pay the proportionate share of the total cost relating to approval of the new agency agreement.
So, the executive committee can approve a new agreement in these circumstances without a general meeting being called. HOWEVER, the secretary should not be doing so without the approval (by a resolution of a committee meeting).
Having said that, there seems to be a number of other issues with the way this matter has been dealt with which points to Jimmy’s summary of the strata managers competence being correct.