Business
Directorate Change and update
Directorate Change and update.
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n \nOne Media iP Group Plc\n\n(\"One Media\" or \"the Group\" or \"the Company\")\n\nDirectorate change and update\n\nDirectorate change\n\nOne Media iP Group Plc (AIM: OMIP), the digital media content provider, which consolidates, exploits and monetises intellectual property rights around music and video, is pleased to announce that it has appointed Philip Miles as a director of the Company.\n\nPhilip joined the company in 2006 and was appointed as a director of One Media iP Limited in April 2007. His area of expertise has been in technical development for the Company on its internal ingestion systems and most recently on TCAT (Technical Copyright Analysis Tool).\n\nNigel Smethers, the Finance Director is due to retire under rotation at the forthcoming AGM. The board will not be seeking his re-election. Nigel will stay with the Group as Company Secretary and Financial Controller until a new Finance Director is appointed.\n\nUpdate\n\nIn light of the current challenges faced by the Company the directors have agreed to a reduction in their salaries of circa 20 per cent. This will be reviewed quarterly in line with results.\n\nIn order to motive and reward key employees and directors of the Company, and to align their interests with shareholders, the board is considering issuing further share options which would vest subject to the achievement performance criteria. A further announcement will be made in due course.\n\nBoard changes to our subsidiary One Media iP Ltd.\n\nA further strategic realignment of the Group sees Alice Dyson-Jones promoted to Commercial director to the One Media iP Limited subsidiary board and Mary Kuehn will leave the subsidiary board as a Non-Executive Director and take up the role as the Executive Sales Consultant for North America.\n\nMichael Infante (CEO & Chairman) commented:-\n\n“As our Group enters a new stage of digital development we must put into place the skill sets that will serve the Group moving forward.\n\nNigel’s retirement from the full responsibilities of a director will require a candidate with a specialist skill set to meet our new challenges. Nigel’s relentless energy and involvement in the Groups founding development cannot be more appreciated and respected by me for which I thank him.\n\nPhilip Miles has worked alongside me in technical development f...