Management Team

The Board

Bruce Weatherill

Bruce Weatherill

Non-Executive Chairman

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.

Alex Cheatle

Alex Cheatle

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. 

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. Prior to founding Ten, Alex was a marketing manager at Procter & Gamble. Alex has a degree in Philosophy, Politics and Economics from Oxford University. Alex is based in London.
Andrew Long

Andrew Long​

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

Alan Donald

CFO

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.

Sarah Hornbuckle

Sarah Hornbuckle

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.

Jules Pancholi

Julian Pancholi

Non-Executive Director

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.

Gillian Davies

Gillian Davies

Non-Executive Director

Gillian Davies is a chartered accountant who qualified with KPMG.
Gillian has held a number of senior financial positions in both listed and private equity backed international companies, including Zeneca plc, Avecia Limited and Georgia Pacific. More recently, Gillian spent 11 years as Group Finance Director of FTSE listed 4imprint Group plc, during which time 4imprint Group plc was extensively restructured and delivered significant growth. Most recently, Gillian was CFO of AIM listed, Harwood Wealth Management Group until its sale to Private Equity and subsequent delisting.

Corporate Governance

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

The Audit Risk Committee has primary responsibility for monitoring the quality of internal controls and ensuring that the financial performance of the Company is properly measured and reported on. It will receive and review reports from the Company’s management and auditors relating to the interim and annual accounts and the accounting and internal control systems in use throughout the Company. Under its terms of reference, it is required to meet twice a year, at which the executive directors may attend by invitation, and is responsible for keeping under review the scope and results of the audit, its cost effectiveness and the independence and objectivity of the auditors. It also has responsibility for public reporting and internal controls and arrangements whereby employees may raise matters of concern in confidence.
The Audit Committee is chaired by Gillian Davies and its other member is Bruce Weatherill who are deemed to have recent and relevant financial expertise.

Remuneration Committee

The Remuneration Committee will review the performance of the executive Directors and make recommendations to the Board on matters relating to their remuneration and terms of employment. Under its terms of reference, it is required to meet twice a year and is responsible for ensuring that the executive directors, officers and other key employees are fairly rewarded (which extends to all aspects of remuneration) for their individual contribution to the overall performance of the Company.
The Remuneration Committee is chaired by Julian Pancholi and its other member is Gillian Davies.

Nomination Committee

The Nomination Committee will nominate for the approval of the Board candidates to fill Board vacancies as and when they arise. Under its terms of reference, it is required to meet as necessary.
The Nomination Committee is chaired by Bruce Weatherill and its other members are Alex Cheatle and Julian Pancholi.

Share Dealing Code

The Company has adopted, with effect from Admission, a share dealing code which sets out the requirements and procedures for the Board and applicable employees’ dealings in any of its AIM securities in accordance with the provisions of MAR and of the AIM Rules for Companies.

Ethics, Anti-Bribery and Anti-Coruption

The Group has an anti-corruption and bribery policy which applies to all employees. It sets out their responsibilities in observing and upholding a zero tolerance position on bribery and corruption, as well as providing guidance on how to recognise and deal with bribery and corruption issues and the potential consequences. The Company expects all employees, suppliers, contractors and consultants to conduct their day-to-day business activities in a fair, honest and ethical manner. Management at all levels are responsible for ensuring that those reporting to them, internally and externally, are made aware of and understand this policy.

The Board monitors how the Company’s ethical values and behaviors are recognized and respected through regular feedback from Management and annual employee surveys.

Investors Relations

The Board is committed to understanding and meeting the needs and expectations of the Company’s existing and potential shareholders.

Please click here for up-to-date information about the Company’s share price.

Please click here for the Company’s latest corporate and public announcements to the market.

Please click here for copies of the Company’s corporate documents, including interim and annual reports.

Please click here for investor FAQs.

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 investorrelations@tengroup.com.

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.

AGM

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.

All resolutions put to shareholders at the Company’s Annual General Meeting held on 4 February 2021 were duly passed.

The full text of each resolution was included in the Notice of the Meeting. Details of the proxy votes for each resolution received by the Company before the AGM are set out below:


Resolution Number

Resolution Name

Number of Votes For

% of Votes For

Number of Votes Against

% of Votes Against

Number of Votes Withheld
   
01   

Report & Accounts
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
02   
   
Bruce Weatherill    
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
03   

Jules Pancholi
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
04   
   
Gillian Davies    
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
05   

Alex Cheatle
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
06   
   
Alan Donald    
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
07   
   
Andrew Long      
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
08   
   
Sarah Hornbuckle    
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
09   

Reappoint auditors
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
10   
   
Remuneration of auditors   
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   
   
11   

Allot shares
   
43,013,286   
   
100.00%   
   
0   
   
0.00%   
   
9,444   
   
12   
   
Pre-emption rights   
   
41,738,475   
   
97.04%   
   
1,274,811   
   
2.96%   
   
9,444   
   
13   

Additional pre-emption rights
   
43,013,286   
   
100.00%   
   
0   
   
0.00%   
   
9,444   
   
14   
   
Purchase own shares   
   
43,021,730   
   
100.00%   
   
0   
   
0.00%   
   
1,000   

Board Performance Evaluation

The Board has undertaken an evaluation of its effectiveness. Input was obtained from every Board member on the following performance evaluation indicators:
The Chairman also met with each Director to discuss Board and individual effectiveness during the period. It was concluded that the Board operated effectively and that each of the Directors’ respective skills complement each other and enhance the overall operation of the Board. The Board identified specific actions including increasing the frequency of invitations from the Board to members of the Senior Leadership Team to deep dive into certain areas of the business.

The Chairman will consider whether external advice or a third-party facilitator is needed to refresh the performance evaluation process next year.

Modern Slavery Statement