Directors & Committees

The Portrait Software plc Board of Directors is:

John O’Connell:  Non Executive Chairman, Chairman of the Audit Committee

John, a FCCA, was Founder, Chairman and CEO of Staffware, a workflow/BPM company, which listed on AIM in 1996 and went on the LSE main market in 2000.  Staffware operated profitably in 22 countries and was the leading independent in its field until it was sold to TIBCO in June of 2004 for approx $250 million.  John is now on the board of three companies in the Technology sector; Columba Systems Ltd (Chairman), InforSense Ltd and Portrait Software plc, and is Vice-Chairman of London Wasps Holdings Ltd.

Nick Randall: Chief Executive Officer

Nick has enjoyed success in growing and turning around companies.  He founded Oxford Magnetic Technology Limited in 1981, the revenues for which grew to approximately £50 million within five years.  He left Oxford Magnetic Technology to purchase Airtech Limited and returned it to profitability within two years.  He sold two divisions of Airtech for £13 million and formed Airtech plc, which obtained an AIM quotation in 1996 and merged with Remec Inc, in 1999.  Post acquisition, Nick managed Remec’s worldwide wireless infrastructure group, and oversaw mergers and acquisitions activities for the company.

Matthew White: Chief Financial Officer and Company Secretary

Matthew has extensive experience in financial management and business turnaround and has worked alongside Nick Randall as finance director of quoted international technology companies since 1998.  Before joining Portrait Software in 2002, he was European Finance Director for Remec Inc, a NASDAQ listed electronic engineering group, and was Group Finance Director of Airtech plc, an AIM listed cellular network infrastructure specialist.  Prior to that he was a manager in the Corporate Financial Services team at Arthur Andersen (London), with seven years' experience in international corporate recovery and six years in audit practice.  Matthew is a Chartered Accountant and a qualified Insolvency Practitioner.

Felda Hardymon: Non Executive Director, Chairman of the Remuneration Committee

G. Felda Hardymon is The MBA Class of 1975 Professor of Management Practice at Harvard Business School where he teaches Venture Capital and Private Equity.  Prior to that, he joined Bessemer Venture Partners as a general partner in 1981 where he remains a Senior Partner.  He has led investments in young companies in the software, communications and retail sectors, including American Superconductor, Cascade Communications (acquired by Ascend), Celcore (acquired by DSC), Parametric Technology, the Sports Authority, Staples, LBMS (acquired by Platinum Technology), Celtel International (acquired by MTC) and Sirocco Systems (acquired by Sycamore Systems). He currently serves on the Board of Silicon Valley Bancshares (NASDAQ:SIVB) and several private companies.  

Geoff Probert: Non Executive Director

Geoff was previously a Main Board Director at Perpetual plc responsible for information systems.  He joined Perpetual in 1984.  He was closely associated with the setting up of both the EMX Co and Cofunds initiatives within the Unit Trust industry.  Following the takeover of Perpetual plc by AMVESCAP Plc he was employed as a technical strategist and is a private investor.  Prior to joining Perpetual, he worked for a number of software houses supplying the financial services industry.  He is a Trustee of POWER, an international charity working for motor disabled victims of conflict.

Remuneration Committee

The Remuneration Committee is chaired by Felda Hardymon, and meets periodically as required.  The role of the Committee is to approve terms of service, agree the remuneration of the Executive Directors and to determine the allocation of share options within the terms of a remuneration policy which is approved annually by the Board.

Audit Committee

The Audit Committee is chaired by John O’Connell.  The role of the Audit Committee is key both to ensuring that a sound system of internal control is maintained within the Group and to ensuring that Portrait Software plc presents (and its policies support) a balanced, clear and understandable assessment of its position and prospects.  The Audit Committee meets twice a year and more frequently if required.

The Committee examines the process of financial reporting within the Group.  It reviews annually the adequacy of the Group's system of internal controls and the processes for monitoring and evaluating the risks facing the Group.  The Committee reviews the scope and results of the audit, as well as the fees of the auditors for both audit and non-audit services.  The Committee is authorised to seek information from any member of the Group and to obtain external professional advice if it considers it necessary.  The Committee also reviews the interim and annual results and the annual report and financial statements, prior to their submission to the Board and ensures an appropriate relationship is maintained between the Group and its external auditors.