||Barry Mence has served as executive chairman and as a director and substantial shareholder of Sopheon since its inception in 1993 when he was one of the founding members. From 1976 to 1990, Mr. Mence was the major shareholder and group managing director of the Rendeck Group of Companies, a software and services group based in the Netherlands.
Formal board meetings are held quarterly to review strategy, management, and performance of the group, with additional meetings between those dates convened as necessary. The audit committee, which includes all of the non-executive directors and is chaired by Stuart Silcock, considers and determines actions regarding any control or financial reporting issues they have identified, or that that have been raised by the auditors. The remuneration committee is responsible for oversight of the contract terms, remuneration, and other benefits for executive directors, including performance-related bonuses. The committee comprises two non-executive directors, B.P.F. Al, as chairman, and S.A. Silcock, together with B.K. Mence, other than in with respect to his own remuneration.