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More case studies >>Investor Relations - Directors and Responsibilities
The page covers the Directors roles and their responsibilities.
Delcam Plc - Directors
Executive
Hugh Humphreys OBE (MD) , Kulwant Singh (FD & CS) , Edward Lambourne, Clive Martell
Hugh Richard Owen Humphreys OBE MSc
Managing Director
Hugh Humphreys, is one of the founder directors. Mr. Humphreys trained as an aircraft engineer and worked for British Aerospace for 10 years before leaving to study for his Masters Degree in Production Management at Birmingham University. He joined the Delta Group in 1974 as an advisor on production and management techniques. Mr. Humphreys led a staff/management buy out in 1989 and the float the company on AIM in 1997. He was awarded the OBE in 1994 recognising Delcam’s export success. He spends part of his time developing the Russian market for Delcam products and was made an honorary professor of Irkutsk Technical University in 1999 and Samara Technical University 2001.
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Edward Barrett Lambourne BSc MSc C.Eng. FIET
Technical Director
Edward Lambourne, joined Delta plc in 1973. He was responsible for the initial introduction of CADCAM software into Delta following a two year secondment to Cambridge University to help develop the DUCT CADCAM system, which was the original foundation for Delcam’s products. Mr Lambourne was one of the founders of the business within Delta plc and he was instrumental in the buyout of the company from Delta in 1989. Mr Lambourne is responsible for the Company’s development and IT systems activity, which includes one of the largest mechanical CADCAM development teams in the UK. Mr Lambourne has a Bachelors degree in Mechanical Engineering from Nottingham University and a Masters degree from Cambridge University for CADCAM research. He is a Chartered Engineer and a Fellow of the Institution of Engineering & Technology.
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Kulwant Singh BSc ACA
Finance Director and Company Secretary
Kulwant Singh, is a chartered accountant, qualifying with Price Waterhouse and also worked for Haines Watts. He has extensive experience over a wide range of industries and international companies. He joined Delcam in 1991 as a Financial Controller and is now responsible for all financial aspects.
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Clive Phillip Martell BSc MSc C.Eng MIEE
Director - European Operations
Clive Martell, has worked for the Company for 21 years. He was appointed Marketing Director in 1994 and was responsible for strengthening the marketing team. Mr Martell became Managing Director of the UK Division in 1996 and responsible for European Subsidiaries in 2001. Mr Martell is a Chartered Engineer with a Bachelors degree in Production Engineering and a Masters degree in Machine Tool and Manufacturing Technology from the University of Birmingham.
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Non Executive
Peter Thomas Miles FCA
Non-Executive Chairman
Peter Miles, was appointed as a non-executive director in April 1997. Mr Miles chairs the Audit Committee. He is a former corporate finance partner in Deloitte & Touche and serves as a non-executive director to several companies.
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Geoff McFarland
Non-Executive Director
Geoffrey McFarland’s appointment took effect following a Board meeting immediately after the AGM in May 2007. He has joined Delcam’s Board following Renishaw’s £6.1 million investment, representing 20 percent of the issued capital, in the business on 23 April 2007. Mr. McFarland, aged 38, has been a director of Renishaw plc since July 2002, and is also a director of Pulse Teq Limited and Metrology Software Products Limited.
Board Responsibilities
The Directors acknowledge their responsibility for the Group's system of internal financial control of which the objectives are:
a) Safeguarding Group assets.
b) Ensuring proper accounting records are maintained.
c) Ensuring that the financial information used within the business and for publication is reliable.
The Key procedures that have operated during the financial year are set out below:
a) The Board meets regularly to review all aspects of the Group's performance concentrating mainly on financial performance. business risks and development.
b) A number of matters are reserved for the Board's specific approval including major capital expenditure, banking and dividend policy.
A Remuneration Committee consists of two non-executive directors, and at present the committee annually reviews the level of director's remuneration packages.
An Audit Committee, comprising of the two non-executive directors meet twice during the year with the auditors and finance director to review the scope of the audit and the audit procedure, the format and content of the audited financial statements.
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