Lombard Risk
Management plc (AIM: LRM), the global provider of specialised software
solutions that improve the management of collateralised trading,
liquidity and regulatory compliance, announces a number of board
changes.
The changes will provide strong Corporate Governance, add considerable
commercial experience to the board and ensure that the business is
subject to tight operational controls. The new board has been put in
place to deliver continued growth and to drive the business towards
profitability.
In summary the new board will comprise of:
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Non-Executive Chairman
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Philip Crawford (newly appointed)
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Chief Executive
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John Wisbey (previously Chairman)
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Chief Operating Officer and Finance
Director
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Chris Langridge (newly appointed)
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Chief Technology Officer
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Nicholas Davies (newly appointed)
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Non-Executive Director
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Mike Shinya (newly appointed)
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Non-Executive Director
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Brian Crowe (existing Non-Executive)
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Non-Executive Director
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Ian Peacock (to retire by the end of
2010)
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Appointment of
Non-Executive Chairman
Philip Crawford, former President International of EDS and former Chief
Executive of Oracle in the UK and Ireland, has been appointed
Non-Executive Chairman with effect from 1 May 2010.
Philip Crawford
has worked in the IT Industry since 1983. He has held a number of
senior positions in software, hardware and services companies including
senior vice president of Oracle Corporation with membership of the
executive board and Larry Ellison's Strategy Council, President of EDS
International with responsibility for all markets outside the US, Chief
Executive of Bull UK and Executive Vice President and head of EMEA- i2
Technologies. Since retiring from full time employment in 2002, Philip
has concentrated on his non-executive director portfolio and acts as a
"business angel". He is currently Chairman of a small number
of companies including Avanti Capital Plc, and Crimsonwing Plc.
Appointment
of Chief Executive
John Wisbey is relinquishing his role as Chairman which he has held
since the founding of the Company from 1 May 2010 and has resumed his
role as Chief Executive Officer
Appointment
of Non-Executive Director
Mike Shinya, currently CEO of IBS, former COO of Microfocus and CEO of
Sherwood International plc at the time of its sale to Sungard, has been
appointed a Non-Executive Director from 1 May 2010.
Mike Shinya is the CEO of IBS Group a Stockholm headquartered Business
Applications Software company operating in over 20 countries
globally. Prior to this position Mike was CEO at Sherwood
International and Chief Operating Officer at Micro Focus plc (both
publicly quoted UK software companies). Mike has been in the
IT industry for over 30 years having served in senior positions at IBM,
Oracle and Baan Company.
Appointment
of Chief Operating Officer and Finance Director
Chris Langridge has joined the board as Chief Operating Officer and
Finance Director.
Chris Langridge has been the CEO and CFO of several AIM listed
companies as well as private companies in Asia, the USA and the UK,
implementing robust financial controls and reporting regimes, focusing
primarily on cash control. He brings many years of experience of
building strong management teams, who are focused on and dedicated to
delivering success and profitability and who are confident and outward
facing and can therefore understand what is happening in their market
at all times. Qualified as a chartered accountant with Ernst and Young,
he has spent many years working in Hong Kong and the USA.
Most recently he was working with RCapital as Chairman of several of
their investee companies, most notably Herald Electronics
Appointment
of Executive Director
Nicholas Davies, Lombard Risk's Chief Technology Officer, and formerly
Technical Director, Worldwide Securities for JP Morgan in London has
joined the board. At JP Morgan he was the head of technology for three
global businesses Globeclear, Collateral Management and Global Trust.
He acquired experience at JP Morgan of leading large global teams,
including offshore resourcing. He was responsible for the architecture
of the JP Morgan collateral platform, and is a member of the SWIFT
Innotribe.
Departure
of Director
Keith Butcher, the Finance Director since September 2009 and Chief
Executive Officer since 15th March 2010 has left the Company. The Board
would like to thank Keith for his efforts.
Ian Peacock, Non-Executive Deputy Chairman and a director of the
Company since before its IPO in 2004, has announced his intention to
retire by the end of 2010 after the new board has had a chance to work
together for some time.
John
Wisbey, Chief Executive Officer, commented as follows :
"These new Board appointments greatly enhance the breadth and depth of
the board. At executive level Chris Langridge will bring with him
heavyweight experience of achieving operational excellence and
structure and achieving growth while seeing through efficiency and cost
reduction programmes. On the non-executive side, we are very fortunate
to be joined by two people with the outstanding experience of Philip
Crawford and Mike Shinya. They both bring with them experience at very
senior commercial levels gained in some of the best technology
companies in the world.
"We face very exciting opportunities as a firm as well as various
challenges and we now have a highly talented and capable board that
will be pulling in the same direction to take the company to the next
level. This appreciable change of board, together with the recent
change of broker to Allenby Capital, are very positive steps which will
allow us to focus on shareholder value through further growth and to
address the disparity between the current share price and the sum of
the values of the various parts of the Company."
Philip
Crawford, Chairman, commented as follows :
"I am delighted to have the opportunity to join Lombard Risk as its
Chairman at an important time for the company. Lombard Risk is a market
leader in various fields such as collateral management and regulatory
compliance software. The Board we have put together will be strong on
Corporate Governance which each of the Board members considers to be
very important. The new Board will also be able to add value and will
be a balanced team with relevant knowledge of the sector and the market
verticals in which the Company operates."
Contacts:
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Lombard Risk Management plc
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Tel: 020 7089 3700
www.lombardrisk.com
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Philip Crawford, Chairman
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John Wisbey, CEO
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Chris Langridge, COO and Finance
Director
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Allenby
Capital Limited
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Tel: 020 3328 5656
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Brian Stockbridge / Alex Price
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Walbrook
PR Ltd
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Tel: 020 7933 8780
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Paul McManus
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Mob: 07980 541 893 or
paul.mcmanus@walbrookpr.com
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Bob Huxford
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Mob: 07747 635 908 or
bob.huxford@walbrookpr.com
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Regulatory information
Philip James Crawford (58 years
old)
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Current directorships:
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Keyprep Limited
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Anderson Charnley Limited
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Optimae Limited
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Crimsonwing Limited
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Crimsonwing Group Limited
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Avanti Holdings plc
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Avanti Capital plc
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Unmissable Limited
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Perperitus Limited
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Andersen-Charnley Limited
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Previous directorships (last 5 years)
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Fugro N.V.
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Optimae Limited
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Wordmap Limited
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Buildonline Global Limited
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Philip Crawford
was a director of Wordmap Limited which was placed into administration
on 25 August 2006. Wordmap was then subsequently placed into creditors'
voluntary liquidation on 11 February 2008.
There is no further information on Philip Crawford required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules
for Companies.
Michael
Shigeo Shinya (52 years old)
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directorships (last 5 years) |
Gyro International Limited (now called
GyroHSR Limited)
Micro Focus International plc |
There is no further information on Michael Shinya
required to be disclosed under Schedule Two, paragraph (g) (i)-(viii)
of the AIM Rules for Companies.
Christopher
Timothy Langridge (55 years old)
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Current
directorships:
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Herald
Electronics Limited
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Property
Dynamics Limited
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Previous
directorships (last 5 years)
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Aquilo
plc
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IT
Solutions (GB) Limited
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Aquilo
Inspection and Reinstatement Limited
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Aquilo
Strategic Services Limited
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Aquilo
Management Services Limited
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Aquilo
Business Solutions Limited
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Stochastic
Financial Modelling Limited
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Aquilo
Supply Holdings Limited
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Sharpes
Holdings Limited
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Keenets
Limited
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Freshfayre
Limited
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Bradman-Lake
Limited
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Christopher Langridge was a director of Aquilo plc which was
placed into administration on 1 October 2007.
Christopher Langridge was a director of IT
Solutions (GB) Limited which was placed into administration on 30
August. IT Solutions Limited was subsequently placed into liquidation.
Christopher Langridge was a director of
Aquilo Inspection and Reinstatement Limited which was placed into
administration on 15 September 2007. Aquilo Inspection and
Reinstatement Limited was subsequently placed into liquidation.
Christopher Langridge was a director of
Aquilo Strategic Services Limited which was struck off the Register of
Companies and dissolved on 23 June 2009.
Christopher Langridge was a director of
Aquilo Management Services Limited which was placed into members
voluntary liquidation on 8 October 2007. Aquilo Management Services
Limited was subsequently dissolved on 2 August 2009.
Christopher Langridge was a director of
Aquilo Business Solutions Limited which went into administration on 12
September 2007. Aquilo Business Solutions Limited was subsequently
dissolved on 11 May 2009.
Christopher Langridge was a director of
Aquilo Supply Holdings Limited which was struck off the Register of
Companies and dissolved on 31 March 2009.
The Company is currently awaiting further details
in relation to these administrations from Christopher Langridge and an
update announcement will be made if appropriate. Aside from this, there
is no further information on Christopher Langridge required to be
disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules
for Companies.
Nicholas
Davies (39 years old)
There is no further information on
Nicholas Davies required to be disclosed under Schedule Two, paragraph
(g) (i)-(viii) of the AIM Rules for Companies.
Click here to email Lombard Risk's
Investor Relations team
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