Bruce Weatherill joined Ten in October 2017. Bruce has over 40 years’ experience in the global financial services industry, providing a range of audit and consulting services to global financial service companies.
Until 2008, Bruce was a partner at PwC in charge of a number of Asset Management and Wealth Management clients. During his time at PwC, Bruce was global leader of PwC’s Private Banking and Wealth Management practice. Since leaving PwC, Bruce set up Weatherill Consulting and provides consulting services to Wealth Management Companies around the world.
Bruce was until 30 June 2019 a non-executive director of Fidelity Holdings (UK) Limited and Chairman of its Audit and Risk Committee. He is non-executive director of ComPeer Limited and The All England Lawn Tennis Club and a Committee member. He is Chairman of JDX Consulting, ClearView Financial Media (WealthBriefing) and the Wisdom Council. He has previously served as Deputy Chairman of the Chartered Institute of Securities and Investments Wealth Management Focus Group and regularly chairs Wealth Management conferences around the world.
Group CEO and Co-Founder
Alex Cheatle co-founded the business in 1998. Alex is responsible for the Group strategy to become the most trusted service business in the world and the related focus to always be improving service levels.
Group COO, CEO APAC and Co-Founder
Andrew Long co-founded the business in 1998. Andrew is responsible for key client and account strategy, global offers & events, legal & compliance, programme management, global real estate and operational & technology infrastructure.
Prior to founding Ten, he ran a UK market-leading event production and management business. Andrew has been based in Singapore with particular leadership responsibilities in APAC since 2012.
Alan Donald joined Ten in June 2019 as CFO. Alan has more than 30 years’ experience working in insurance, healthcare, aviation, business travel and leisure sectors.
Before joining Ten in June 2019, Alan was UK finance director at Thomas Cook for 9 months.
Previous to this, Alan was Finance Director of the travel division of Saga Group plc, EMEA CFO at Carlson Wagonlit Travel and CFO at Menzies Aviation part of the John Menzies Group. Alan also held senior finance positions at Willis Corroon, BUPA and Cigna Healthcare. Alan qualified as a Chartered Accountant with Deloitte Haskins & Sells.
Client Services Director
Sarah Hornbuckle joined Ten in 2001. Sarah is responsible for the client services strategy, leading the team that develops long-term partnerships with Ten’s corporate clients
Sarah has overseen the launch of all of major corporate programmes in EMEA, as well as many programmes globally. Prior to joining Ten, Sarah was a brand manager at Unilever Bestfoods and Mars Confectionery for several years, responsible for launching new product lines and developing ATL and BTL advertising and marketing campaigns.
Julian (“Jules”) Pancholi joined Ten in October 2017. Jules is an experienced technology and marketing services entrepreneur.
Jules was served as a non-executive director of Skyscanner Limited, the travel fare comparison website until the sale to C TRIP for over £1.4 billion in 2016. Jules is Managing Director of Nitro Digital Limited, an independent digital agency. His other ventures include Nixxie Limited (a US-focused advertising tech business), Estimo Technologies Limited (a B2B SaaS workflow solution), Nitro Property Limited (a syndicate-based property portfolio business) and a number of other ventures in Fintech and Healthtech.
The Company’s compliance with the QCA Code was last reviewed before publication of the Annual Report for the period ended 31 August 2019 in November 2019. Details of how the Company complies or explains against the QCA Code, are therefore included in our Annual Report.
In 2018, the Company adopted the Quoted Companies Alliance’s (QCA) Corporate Governance Code for Small and Mid-Size Quoted Companies (“QCA Code”). The Board believes that it complies with all of the principles of the QCA Code through its governance practices which ensure that the Company has the right people, strategy and culture to deliver the Company’s strategies for success in the medium to long term.
The roles and responsibilities between the Board, Chair, Executive, Non-Executive Officers and management are clearly documented and understood. The Board is responsible for formulating, reviewing and approving the Company’s strategy, budgets, values and corporate actions. The Company holds Board meetings at least eight times each financial year and at other times as and when required.
The Board of Directors
The Board is responsible for setting the vision and strategy for the Company to deliver value to its shareholders by putting in place an effective business model. The Board members are collectively responsible for defining corporate governance arrangements to achieve this purpose, under clear leadership by the Chair.
The Board currently consists of four executive and three non-executive directors. There is a clear division of responsibilities between the Chairman, Bruce Weatherill and Chief Executive Officer, Alex Cheatle and their roles have been set out in writing and agreed by the Board.
The Chair is responsible for leading the Board effectively and overseeing the adoption, delivery and communication of the company’s corporate governance model. The Chair makes sure that the Board’s agenda concentrates on the key issues, both operational and financial, with regular reviews of the Company’s strategy and its overall implementation. Bruce Weatherill was appointed Chair in October 2017, bringing over 40 years’ experience in the global financial services industry with relevant leadership, financial control and commercial expertise as well as proven history at Board level. He is a member of the Audit & Risk Committee and chairs the Nomination Committee.
The Chief Executive Officer is responsible for the management of the Company’s business and for implementing the Company’s strategy. Alex Cheatle co-founded the business in 1998. He is also a member of the Nomination Committee.
Gillian Davies and Julian Pancholi were appointed as non-executive directors in October 2017. Ms. Davies brings financial expertise as a Chartered Accountant and has substantial experience as Finance Director of FTSE and AIM listed company. Most recently, she was CFO of AIM listed, Harwood Wealth Management Group. She is chair of the Audit & Risk Committee and a member of the Remuneration Committee. Mr. Pancholi has relevant industrial experience in technology and marketing services and is a proven non-executive director. He is chair of the Remuneration Committee and a member of the Nomination Approval of the half-yearly and annual report, interim management statements, trading updates, announcements of final results, including the corporate governance statement and directors’ remuneration report.
The Non-Executive Directors are considered independent of management and free of any relationship that could materially interfere with the exercise of their independent judgement. The Chairman was considered independent upon his appointment.
Alan Donald was appointed as Chief Financial Officer in June 2019. Mr. Donald brings financial expertise with over 30 years’ experience in Finance roles and over a decade’s experience in the travel industry.
Andrew Long was appointed as Group COO and APAC CEO in 2012. Mr. Long co-founded the business in 1998 and is responsible for operational and technology infrastructure as well as having leadership responsibilities in APAC.
Sarah Hornbuckle was appointed as Client Services Director in 2013. Ms. Hornbuckle joined the Company in 2001, bringing brand management experience from Mars and Unilever Bestfoods and is now responsible for managing corporate client services.
Matters are reserved for the Board include:
Audit & Risk Committee
Share Dealing Code
Ethics, Anti-Bribery and Anti-Coruption
The Board monitors how the Company’s ethical values and behaviors are recognized and respected through regular feedback from Management and annual employee surveys.
The Board is committed to understanding and meeting the needs and expectations of the Company’s existing and potential shareholders.
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Wherever possible, the Company shall supplement interim and annual reports with presentations and videos from the CEO and will announce technological, commercial and financial developments to ensure that the market is fully informed of the business’ progress.
As well as having access to detailed information on the website, investors are invited to send any enquiries to the Company Secretary by emailing firstname.lastname@example.org.
The CEO and the CFO meet regularly with shareholders and potential investors and report their feedback to the Board. In addition, the Company’s joint-brokers provide independent feedback to the Board on market views and produce regular research notes on the Company. This has enabled the Board to understand the concerns of shareholders and the wider investment community.
Shareholders are invited to make use of AGMs to raise any questions regarding the Company’s management or performance. The Company shall disclose the outcomes of votes in a transparent way and will take steps to understand the reasons behind any vote where a significant proportion of votes have been cast against a resolution. Annual Reports and General Meeting Notices shall be kept on the website for at least 5 years.
The Notice of Annual General Meeting 2020 is available here. All 14 resolutions were carried on a show of hands at the AGM on 5 February 2020.
Board Performance Evaluation
The Chairman will consider whether external advice or a third-party facilitator is needed to refresh the performance evaluation process next year.