Investor relations
Board of Directors
Kenneth (Ken) Lever
Non-Executive Chair
Length of tenure
Appointed 22 March 2023 (Executive Chair from 5 April 2023 to 10 May 2023, Interim Chair until 15 February 2024)
Skills and experience
Ken is an experienced business leader, having held a number of senior executive and non- executive positions within UK-listed firms.
He is currently Senior Independent Director and Chairman of the Audit Committee at both Vertu Motors plc and Rockwood Strategic plc, as well as Deputy Chairman of Rainier Developments Limited. Ken has recently stepped down as Non-executive Chairman of Biffa plc and RPS Group plc.
Ken was also a Non-executive Director at Blue Prism plc, an intelligent automation software business, where he was Chair of the Audit Committee.
In his executive career, Ken was latterly Chief Executive Officer of technology, business services and insurance software business Xchanging plc.
Ken is Chair of the Advisory Board of the Alliance Manchester Business School and was a member of the Accounting Council (formally the Accounting Standards Board) of the Financial Reporting Council.
External appointments
Ken is the Senior Independent Director and Chairman of the Audit Committee of Vertu Motors plc, the Senior Independent Director and Chairman of the Audit Committee of Rockwood Strategic plc and Deputy Chairman of Rainier Developments Limited.
Stephen Kelly
Executive Director, CEO
Length of tenure
Appointed 10 May 2023
Skills and experience
Stephen Kelly is a successful, serial growth CEO with global experience in complex enterprise software and technology businesses channels. Stephen has an exceptional leadership record from start- ups to the largest organisations in both private and public sectors. Stephen led the turnarounds as CEO of Sage (FTSE50), Micro Focus (FTSE250), and grew Chordiant rapidly (Nasdaq) adding approximately $10bn of market value increase over almost 50 quarters during his stewardship as a public company CEO. The companies led by Stephen all became global market leaders in their sectors.
In the 1980s, Stephen joined the early-stage European team at Oracle where annual triple-digit revenue growth was the standard in the enterprise data business. Stephen was appointed the UK government’s first Chief Operating Officer during the Coalition government, where Efficiency & Reform programs delivered £50bn annual savings as well as major innovations including the delivery of Gov.UK and the digitisation of UK government which was awarded “UN best digital government” in 2016.
External appointments
Chair Science, Technology & Research Honours Committee (sits on main Honours Committee).
Member of No 10 Downing Street Digital Fellows Board.
Senior Adviser to Blackrock (LTPC).
NED Locum’s Nest (Healthtech).
Peter Lees
Sr. Independent Non-Executive Director
Length of tenure
Appointed 10 August 2022
Skills and experience
Peter has built a successful 35-year career in the UK financial markets, having served in senior leadership roles across multiple financial institutions, with a particular focus on Equity Capital Markets and the provision of investment and strategic advice to public and private companies.
Peter has built, grown and led a number of UK, European and Global Equity teams during his career, including most recently serving as a Managing Director at Stifel, where he was part of the leadership team in the Technology and Life Science sectors. Prior to that, Peter served as Head of UK and European teams at F&C, responsible for managing over £15bn of assets under management. Earlier in his career, Peter rose to become Head of the UK Equity Team at Morgan Grenfell (latterly, Deutsche Bank), helping to drive the organisation towards its ultimate position as one of the top three Asset Management companies in London.
External appointments
None.
Chris Baker
Non-Executive Director
Length of tenure
Appointed 25 July 2023
Skills and experience
Chris Baker is an experienced leader in the international technology industry and currently a partner of CBCS Associates, a software advisory business. From 1983 to 1997 Chris was with Digital Equipment Company, rising to serve as UK Sales Director for Outsourcing. During the period 1997 to 2014, Chris held several senior roles within Oracle, rising to Senior Vice President and Worldwide Head of ISV/OEM/Java Sales. Chris was then Executive Director of Xchanging plc from 2014 to 2016, leading the Xuber Insurance Software business, and from 2016 to 2021 Chris was CEO of Capita Software.
External appointments
Partner of CBCS Associates.
Board Committees
The company has established an Audit and Risk Committee, a Nomination committee and a Remuneration Committee with formally delegated duties and responsibilities and with written terms of reference. Each of these committees meet regularly. From time to time, separate committees will be set up by the board to consider specific issues.
Audit and Risk Committee
Amongst other responsibilities, the Audit and Risk Committee is responsible for monitoring and ensuring the truth and fairness of the Company’s financial statements before submission to the Board for approval, ensuring compliance with appropriate accounting standards, the law and the AIM Rules. The Audit and Risk Committee meets twice a year and often interacts with the external auditor.
Nomination Committee
The Nomination Committee is responsible for reviewing the structure, size and composition of the Board and recommending any changes required, succession planning and identifying and nominating board candidates for vacancies as and when they arise. The Committee is also responsible for reviewing the results of any Board performance evaluation process. The Nomination Committee meets at least twice a year.
Remuneration Committee
The Remuneration Committee’s primary purpose is to assist the Board in determining the Company’s remuneration policies, reviewing the performance of Executive Directors and make recommendations to the Board on matters relating to their remuneration and terms of service.
Board appointment and re-election
Directors are subject to re-election at the Annual General Meeting (“AGM”) following their appointment. In addition, at each AGM one-third (or the whole number nearest to one-third) of the Directors retire by rotation.
Terms of appointment and time commitment
All Non-executive Directors are appointed for an initial term of three years subject to satisfactory performance. After this time, they may serve additional three-year terms following review by the Board. All Non-executive Directors are expected to devote such time as is necessary for the proper performance of their duties. Directors are expected to attend all Board meetings and Committee meetings of which they are members and any additional meetings as required. Further details of their terms and conditions are summarised in the Remuneration report on pages 43 to 45 of the annual report and the terms and conditions of appointment of the Non-executive Directors are available at the Company’s registered office.
Communicating to our shareholders
The AGM is the principal forum for dialogue with private shareholders, and we encourage shareholders to attend and participate. The last AGM was held on Wednesday 30 August 2023 at Brown Rudnick’s London office, with the results being published on our website, www.cirata.com/investors.
This year’s AGM will be held at 2:00pm on 14 May 2024 at Brown Rudnick’s London office. Full details are included in the Notice of Meeting, which is sent to shareholders at least 21 days before the meeting.
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mail ir@cirata.com
phoneUS +1 925 380 1728
phoneUK +44 (0) 20 3727
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