The board of Redde plc comprises an interim non-executive Chairman (who was regarded as independent at the time of his appointment), one independent non-executive director and three executive directors*.
*Interim position following resignation of the Chairman.
With effect from 28th September 2018, the Redde plc Board has adopted the Quoted Companies Alliance (QCA) Corporate Governance Code (QCA Code) to meet the requirement for all AIM-quoted companies to provide details of a recognised corporate governance code that they apply. For the financial year ended 30th June 2018, the Company applied the principles of the UK Corporate Governance Code and the QCA Code in combination, as deemed appropriate by Board. The financial year ending 30 June 2019 will be the first year the Company has formally applied the QCA Code and the Chairman’s statement sets out in more detail how it proposes to apply these principles.
The Board has established Nomination, Remuneration and Audit Committees, with formally delegated duties and responsibilities, and written terms of reference. From time to time, separate committees may be set up by the Board to consider specific issues when the need arises. The Chief Executive Officer and the Chief Financial Officer are also members, together with other senior executives, on the operating board of the accident management businesses and the boards of the group’s two legal businesses.
Interim Non-Executive Chairman
John became non-executive Chairman in August 2019, having joined the Board as non-executive director in December 2011. He brings a wealth of relevant experience to the Board having been, until he retired in 2006, Managing Director of Lloyds TSB’s Asset Finance Division which, amongst other businesses, included the bank’s motor-related operations. Prior to that John was Group Head of Consumer Finance for Standard Chartered Bank and Managing Director of their UK finance house subsidiary Chartered Trust. He has also held the positions of Managing Director of United Dominions Trust, a subsidiary of Lloyds TSB and a Director of the Finance and Leasing Association. In his career John has also been involved in a number of joint ventures with motor manufacturers and motor importers.
John was previously non-executive Chairman of Autologic Holdings plc and Chairman of the Vehicle Remarketing Association. He is currently a non-executive director of Mpac Group plc ( previously called Molins plc) and a director of Local Car and Van Rental Limited.
Chief Executive Officer
Martin joined Redde plc in August 2005 as Managing Director of its subsidiary business, Albany Assistance Limited. In February 2009 Martin became Managing Director of the Group’s combined Accident Management Business and in April of the same year was appointed Group Managing Director. In October 2011 he became Chief Executive Officer.
Martin has extensive insurance industry experience, having jointly founded the Rarrigini & Rosso Group in 1994, a leading independent wholesale motor fleet, property and risk management insurance business, where he was commercial and operations director. This business built a membership network of over 500 leading commercial insurance brokers throughout the UK and marketed schemes on behalf of insurance companies. The business was acquired by THB plc in 2003. Martin has an MBA from Durham University.
Chief Financial Officer
Stephen joined the Group as Chief Financial Officer in October 2011. Stephen is a Fellow of the Institute of Chartered Accountants having qualified in 1974 with Price Waterhouse, London and is also a member of the Chartered Institute of Taxation.
Stephen has significant experience having in the past been Group Finance Director of fully listed groups such as Macarthy plc and The Hartstone Group plc. He was also previously Group Chief Executive of AIM listed Loftus Road plc and Interim Chief Financial Officer of AIM listed Sira Business Services plc.
Chief Operating Officer
Mark was appointed as Chief Operating Officer of Redde plc in July 2018.
Mark joined FMG as Chief Operating Officer in October 2014 becoming Joint Managing Director in April 2015 and then Chief Executive Officer in October 2015, following FMG’s acquisition by Redde plc.
Prior to his roles at FMG, Mark spent twelve years with Lex Autolease, joining as Finance Director of Lloyds TSB Autolease before progressing into a number of senior commercial roles within the business.
Mark is an associate of the Chartered Institute of Management Accountants.
Mark joined the Board as non-executive director in March 2009 and is chair of the Remuneration Committee. He brings extensive sector management and commercial experience, having spent six years as CEO of Avis Europe plc. Prior to Avis, Mark was Managing Director of Thomas Cook’s global travel and foreign exchange business and before that spent seven years with Midland Bank International in corporate finance and international operations. Mark was CEO of Premiership Rugby until July 2019 and is now an Adviser to CVC Capital Partners as well as the senior independent director on the Warwickshire CCC Board. He has previously held non-executive directorships with HMV Group plc, Umbro plc and Horserace Totalisator (Tote).