Ordinary General Shareholders’ Meeting Brussels, 8 April 2009.
2009 Annual General Meeting
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Transcript of 2009 Annual General Meeting
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2009 Annual General Meeting
John Hearne, Chairman
Erik Fenna, CEO
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Agenda
• 4:00 Registration. Voting on Director Positions Opens
• 4:15 AGM Formal Start
• 4:45 Voting on Director Positions Closes
• 4:45 Q&A
• Announcement of Election Results
• Interactive Session – Strategic Effectiveness
• Exploring common opportunities: LIXI and IBM IFW in Financial Services
• Networking and light refreshments
• 6:30 close
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Welcome
• Today’s AGM structure
– Voting procedures for directors– LIXI financial statements– Outlook for 2010– Election Results
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Voting Procedures
• Election of board members is by secret ballot – one vote per member
• Voting will close after the Financials have been presented
• Ballot counting will follow and results announced immediately thereof
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FY 2009 Financials
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PROFIT AND LOSS STATEMENTFOR THE YEAR ENDED 30 JUNE 2009
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BALANCE SHEETFOR THE YEAR ENDED 30 JUNE 2009
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CASH FLOW STATEMENTFOR THE YEAR ENDED 30 JUNE 2009
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Financials – Summary
• Healthy bank balance, revenue stable in spite of GFC
• Operating efficiently within budget
• Low demand for technical resources in 2009
• IP and License agreements modified
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Outlook for 2010
• SBR
• NECS
• New Standards and Standardisation
• Fast-Track Processes
• High demand for technical resources
• 4th Annual LIXI Forum Sep 8th
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Acknowledgements
• Current and outgoing board members
• InAssociation
• Reputation
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Close of Ballot Voting
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Any other business
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Questions & Answers
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Session Break
next up:
Interactive Session on Strategic Effectiveness
then
IBM and the strategic value of Information Framework
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Presenting the LIXI Board for 2009
• Martyn Beer• Curtis Brager• John de la Torre• Simon Elwig• John Hearne• Glenn Lees• Simon Libbis• Joanne Mather• Phil Naylor• Mike Thanos
» Thank you !
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Thanks to all nominees for their commitment to LIXI
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Interactive Session on Strategic Effectiveness
Tony Crossley, Brand Management
John Hearne, LIXI Chairman
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Tony CrossleyCoreData / Brand Management
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Board Effectiveness
John Hearne, LIXI Chairman
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NFP Boards often have unique aspects…..
• Lack of clearly identified “owner” of the organisation.
• Goals are qualitative, not financially driven.
• Directors are, typically, unpaid volunteers.
• Are not constructed around skills and experience, rather around other qualifying factors.
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Challenges associated with NFP Boards..
• Not traditionally thought of as operating to the same standards of commercial sector.
• Stereotype of inefficient meetings.
• A hobby - one fits it in between family and employer commitments.
• Often operating in survival mode
• Rewards not linked to performance
• Absence of agreed accountability and reporting standards
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Typical failings of NFP Boards
• Volunteer nature brings passion and commitment, but also a desire to be involved in management responsibilities.
• Commitment ebbs and flows, creating underperforming well meaning volunteers.
• Important skills and experience can be inadequate for the decisions confronting the Board.
• Long Board tenures denies the benefit of fresh perspectives
• The chair often is the person with most time on their hands, or the most passionate for the cause.
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Open Discussion
• Should the Board be representative or have a minimum composition of skills and experience defined?
• Should Board members have a fixed term or limit to tenure?
• Should the selection of chair have a clear criteria?
• How do members measure an effective Board?
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Q & A
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Exploring common opportunities LIXI and IBM IFW in Financial
Services
Earl Butterworth, IBM Global Services
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Thank you