Corporate Governance
Monitise was founded in 2004 and was listed on the Alternative Investment Market (AIM) of the London Stock Exchange on the 28th June 2007.
The Board
The Board currently consists of three Executive Directors and five Non-Executive Directors, including the Chairman.
The Board ensures that there is an Independent Director appointed as the Senior Non-Executive Director. This position is held by David Dey.
The posts of Chairman and Chief Executive Officer are held by different Directors. The Chairman leads the Board in determining strategy, achievement of objectives and organising the business of the Board. The Chief Executive Officer is responsible for formulating the Group's strategy and for the Group's day-to-day business and is accountable to the Board for the financial and operational performance of the Group.
The Committees of the Board
The following Committees have been established to assist the Board in fulfilling its responsibilities:
Audit Committee
The role of the Audit Committee is to monitor all financial statements of the Company, review internal financial controls, consider the need for an internal audit function and report to the Board on its findings if it considers action or improvement is required.
The members of the Audit Committee are Colin Tucker and David Dey. Colin Tucker chairs the Committee
Remuneration Committee
The Committee considers and approves specific remuneration packages for each Executive Director following consultation with the Chairman. In accordance with guidelines set by the Board, it determines the Group's policy on remuneration of senior executives and controls the operation of share option schemes and the grant of options.
The members of the Remuneration Committee are David Dey, Peter Radcliffe and Colin Tucker. Peter Radcliffe chairs the Committee.
Nominations Committee
The Committee meets as required to initiate the selection process of, and make recommendations to, the Board with regard to the appointment of new Directors.
The members of the Nominations Committee are David Dey, Peter Radcliffe and Colin Tucker. David Dey chairs the Committee.