Directors
Paul Lever
Chairman and Non-executive Director
Paul joined the board as Chairman in January 2003. Paul’s executive career spans a number of Chief Executive positions at Crown Paints, Crown Berger Europe, and Tube Investments – Small Appliance Operations, as well as Executive Chairman of Lionheart plc.
Paul has considerable experience within the personal development and training sector in addition to extensive corporate transaction experience.
He was appointed as Non-Executive Chairman in 1992 of BSM Group plc (formerly the British School of Motoring) and saw it through its flotation in 1994, its development into a service related business and its subsequent sale to the RAC in 1998.
As Non-Executive Chairman of Oxford Aviation Holdings Ltd, the largest commercial air training school outside the United States, with annual sales of £40 million, he led a private purchase of the company, which was later sold to BBA Group plc.
Ken Scott
Chief Executive
Ken joined ILX Group as its CEO in July 2002 with the mandate to refocus the Company and deliver a new strategy.
He has been the architect and driver of the business transformation which has taken place within ILX Group since then.
Ken has a rich background in business leadership and commerce, a great deal of which was gained in financial services. His previous roles include positions as UK country head for Avco Trust (consumer and business financing), CEO of Hamptons Estate Agents, Group Marketing Director of Bristol & West and Regional Director for one-fifth of the UK retail branch network of HSBC.
He is a strong advocate of customer retention activities and of seeking ways to gain long-term competitive advantage. Ken has attended Harvard Business School and INSEAD and is a Fellow of the Chartered Institute of Bankers.
Jon Pickles
Finance Director
Jon has 14 years’ experience with the group.
He has a degree in Mathematics and Philosophy from London University and is a chartered management accountant.
He was appointed Group Financial Controller after the business was floated on AIM as Intellexis plc prior to being appointed to the board as Finance Director in March 2003.
Jon has played a major role in the restructuring of Intellexis plc to ILX Group and in the subsequent acquisitions and growth.
Paul Virik
Non-Executive Director
Paul joined the board of directors in January 2007.
He brings with him experience that spans magazine publishing, conferences, exhibitions, directories and major internet developments.
He has led operations across diverse markets including IT, Agriculture, Aviation, Social Work, Legal, Electronics, Hospitality, Human Resources, and Construction.
His focus has always been on long term sustainable market leadership through teamwork, innovation and customer focus.
His previous positions include Managing Director of Reed Business Publishing, CEO of OAG, and CEO of Butterworths legal publishing.
Corporate Governance
Corporate Governance
The directors intend, so far as possible and to the extent appropriate given the company’s size and the constitution of the board, to comply with the Combined Code prepared by the committee on corporate governance chaired by Sir Ronald Hampel and which is appended to the Listing Rules of the Financial Services Authority.
The board has separate roles for chairman and chief executive.
The board has established an audit committee, which comprises P R S Lever, and P Virik (chairman), and a remuneration committee which also comprises P R S Lever (chairman), and P Virik, with formally delegated responsibilities.
The audit committee meets at least twice a year and is responsible for ensuring that the financial performance of the company is properly monitored and reported. It is also responsible for appointing the auditors, ensuring the auditors’ independence is not compromised, and reviewing the reports on the company from the auditors in relation to the accounts and internal control systems.
The remuneration committee is responsible for reviewing the performance of the executive directors, and for determining the scale and structure of their remuneration packages and the basis of their service contracts bearing in mind the interests of shareholders. The committee also monitors performance and approves the payment of performance related bonuses and the granting of share options.
The board has not established a nomination committee as it regards the approval and appointment of directors (whether executive or non-executive) as a matter for consideration by the whole board.
Internal control
The Combined Code includes a requirement that the directors’ review should be extended to cover not just internal financial controls but all controls including operations, compliance and risk management. It reports as follows:
The directors are responsible for the group’s system of internal control. Although no system of internal control can provide absolute assurance against material misstatement or loss, the company’s system is designed to provide the directors with reasonable assurance that problems are identified on a timely basis and dealt with appropriately. The key procedures that have been established and which are designed to provide effective internal control are as follows:
Management structure: the board of directors meets regularly and minutes of its meetings are maintained.
Financial reporting: budgets are prepared and reviewed by executive management. Any material variances to actual results are investigated.
Investment appraisal: the company has a clearly defined framework for capital expenditure requiring approval by key personnel and the board where appropriate.
The board has reviewed the effectiveness of the system of internal controls and it has considered the major business risks and the control environment. No significant control deficiencies were reported during the year.
No weaknesses in internal control have resulted in any material losses, contingencies or uncertainty which would require disclosure, as recommended by the guidance for directors on reporting on internal control.
Directors’ Responsibilities
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the group and of the profit or loss of the group for that year.
In preparing those financial statements, the directors are required to select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on a going concern basis unless it is inappropriate to assume that the group will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the group and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.