Gerald Carey, Non-executive Chairman
Gerald Carey is a former regional director of Barclays Bank plc and is a non-executive Chairman of five other companies including Oxley Technology Group and Barnes Logistics Limited. He is also a Fellow of the Chartered Institute of Bankers. Gerald was appointed chairman of the Company on 4 January 2006.
Gerald chairs the Audit committee and sits on the Remuneration committee.
David Mond, Chief Executive Officer
David qualified as a chartered accountant in 1971. Since that time he has been in public practice as a chartered accountant specialising in insolvency and turnaround situations. He is senior partner of Hodgsons Chartered Accountants. For 10 years David served on the Council of the Association of Business Recovery Professionals (formerly SPI), retiring in April 2003. He was joint administrator of the FADS household décor business and is a director of Strategic Retail Plc (the company that acquired the FADS household decor business) which was admitted to AIM in December 2003. David is a licensed insolvency practitioner.
David chairs the Remuneration committee.
Anthony Leon, Non-executive Finance Director
Anthony is a chartered accountant and was managing partner of Binder Hamlyn's Manchester office for 15 years. He is currently non-executive director of three other AIM quoted companies. He is also a non-executive director of Central Manchester and Manchester Childrens' University Hospitals NHS Trust, having been chairman of the Mancunian Community NHS Trust between 1995 and 2001. Anthony is a deputy lieutenant in the county of Greater Manchester. Anthony was appointed a director of the Company on 15 December 2006.
Anthony sits on the Audit committee.
Andrew Smith, Marketing Director
Andrew is a member of the Chartered Institute of Public Relations and also has diplomas from the Chartered Institute of Marketing and the Communications, Advertising and Marketing Foundation. He has worked in marketing communications for 28 years including experience in the consumer finance and professional services sectors. Between 1987 and 1989 he was marketing communications manager for chartered accountants, BDO Binder Hamlyn, managing a large department with significant national and local budgets. Between 1992 and 2004 Andrew was a director of specialist insolvency communications firm, Smith Grundon & Partners Limited. He joined ClearDebt in August 2004.
Daniel Morris, Business Development Director
Daniel is the managing director of Abacus and co-founded the company in January 2000. He had a number of sales roles prior to Abacus, incuding spending over four yers at debt management company Gregory Pennington Limited, where he was ultimately responsible for managing a team of sales advisers. Following the Acquisition, Daniel will be the Enlarged Group's buiness development director with responsibility for generating additional sales.
Corporate governance and AIM compliance
The Board recognises the importance of sound corporate governance commensurate with the size of the Enlarged Group and interests of its Shareholders. The Directors will take such measures, so far as is practicable taking into account the size and nature of the Enlarged Group to comply with the Combined Code. Accordingly, the Company has in place an audit committee and remuneration committee.
The audit committee which comprises Gerry Carey and Anthony Leon and which is chaired by Gerry Carey meets as least twice per annum and is responsible for ensuring the integrity of the financial information reported to Shareholders and the systems of internal controls. This committee provides an opportunity for reporting by the Company's auditors. The Chief Executive Officer attends meetings by invitation. The remuneration committee which comprises David Mond and Anthony Leon and which is chaired by David Mond meets at least twice per annum to determine the terms of employment and total remuneration of the executive directors, including the granting of any share options and the administration of any incentive schemes. The objective of this committee is to attract, retain and motivate executives capable of delivering the Company's objectives.
Additionally, the Board has established an AIM Rules Compliance Committee which comprise David Mond and Anthony Leon. The committee will meet as least twice per annum with additional meetings convened as requested by members of the committee. The committee will be responsible for ensuring that the Company has in place sufficient procedures, resources and controls to enable it to comply with the AIM Rules.
