David Haynes – Executive Chairman
David Haynes was born and educated in New Zealand. From 1962 he spent the next 22 years in financial services in Australia, employed first in stockbroking as an analyst, then later heading the corporate underwriting and merger activities of Tricontinental Corporation Limited. In 1983 he became chairman of the Aspermont Group of companies, engaged in a broad range of industries including television and radio broadcasting, life insurance and finance. He became chief executive of Crown Communications Group PLC, an affiliate company of Aspermont in 1990 and has lived in the UK since 1991. In 1996 he researched and organised the formation of IMD. He has worked full-time as the executive chairman of IMD since its formation until 2008 when he became part time. He has no other significant commitments.
Simon Cox – Chief Executive Officer
Simon was appointed Chief Executive Officer of IMD in May 2006. A graduate of Cambridge University and Columbia Business School, Simon has spent the majority of his career working in media and technology. In 1989 Simon joined the Zenith Group where he became Group Finance Director and was a part of the team that won Carlton’s London weekday ITV franchise. In 1995 he joined Warner Bros. International Television as Director of Finance and Business Development and played a key role in the negotiation and management of several acquisitions, including the acquisition and profitable disposal of a stake in Canal Satellite in France. He left Warner Bros. in 1999 to become COO and a main board director of FTSE250 company Euromoney Institutional Investor plc. In 2001 he joined imagenet, which he grew into a global platform for the distribution of publicity material for four Hollywood Studios and in 2004 negotiated its sale to Getty Images.
Philip McDanell – Finance Director
Philip McDanell has held senior roles in a number of leading media organisations including Viacom and Carlton Communications. He was previously Group Managing Director of Chrysalis Group PLC; Chief Financial Officer and head of Operations at MTV Networks Europe; Philip has over 25 years experience at board level in the TV, film, music and radio industries. He currently also runs his own media consultancy with clients in Europe and Asia.
Charles Dunstone – Non-Executive Director
Charles Dunstone founded The Carphone Warehouse PLC in 1989 and is now its chief executive. Prior to 1989, Charles Dunstone worked for NEC for four years as a sales manager before leaving to set up The Carphone Warehouse PLC. He is a non-executive director of Daily Mail and General Trust PLC. In addition he is a non-executive chairman of The Princes Trust Trading Board and a member of its council. His responsibility within IMD is to liaise with David Haynes on corporate matters and the radio industry.
Martina King – Independent Non-Executive Director
Martina became the first Managing Director of Yahoo! UK & Ireland in October 1999 and subsequently ran Yahoo’s operations across Europe. Previously, she held positions in broadcast and print media including Managing Director of TSMS Group Limited. Prior to that, she spent six years at Capital Radio as Managing Director responsible for the company’s London stations. Martina’s career began with sales roles in the newspaper business at The Observer and The Guardian. She is currently also non-executive director for Capita Group plc, Johnston Press plc. A Trustee of Coram and The Ahoy Centre, a Governor of The Woodbridge School and Treasurer of The Marketing Group of Great Britain.
Charlie Cox – Independent Non-Executive Director
Charlie Cox has worked in the broadcasting industry for more than 30 years. He started as a journalist and broadcaster in news radio in Sydney in the 1970’s. He became MD of Australia’s premier news radio station 2GB in Sydney as well as holding the post of national news director for the Macquarie network. He founded the Daily Mail and General Trust’s broadcasting division, DMG Radio in 1993 and joined the Carphone Warehouse Group as Business Affairs director at the time of the company’s floatation. Charlie Cox is a company Director and Media Consultant as well as a television commentator for the BBC.
Ian Stevenson – Non-Executive Director
Ian Stevenson qualified as a Scottish Chartered Accountant in 1964 following which he worked for some years as a manager for Price Waterhouse in Australia. He was then an executive partner of Scott Oswald (now Tenon PLC) for 21 years and was finance director of Crown Communications Group PLC from 1989 to 1992. For the last 16 years he has run his own chartered accountancy practice. His responsibilities include advising the Board on taxation and matters relating to share options.
Statement of Directors' Responsibilities
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing those financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for ensuring that the directors' report and other information included in the annual report is prepared in accordance with company law in the UK. They are also responsible for ensuring the annual report includes information required by the Listing Rules of the Financial Services Authority.
So far as each of the directors is aware at the time the report is approved:
- there is no relevant audit information of which the company's auditors are unaware; and
- the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Board Committees
A Remuneration Committee is in place comprising two Non-Executive Directors. The Remuneration Committee has two scheduled meetings each year. Both serving members attended the two meetings held in the year.
An Audit Committee is in place comprising two independent Non-Executive Directors. The Company's approach to internal control is described below. The Audit Committee has two scheduled meetings each year. Both serving members attended the two meetings held in the year.
There is no Nomination Committee. Given the size of the Group, the Board do not consider a Nomination Committee appropriate (paragraph A4 of the Code).
Complete copies of the terms of reference of the Audit and Remuneration Committee are available on request.
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