Monitise Plc Loses CIO Mike Keyworth In Spate Of Board Depatures

Monitise Plc (LON:MONI) announces some board and senior leadership changes.

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.

Read More

The content of this article is provided for information purposes only and is not intended to be, nor does it constitute, any form of personal advice. Investments in a currency other than sterling are exposed to currency exchange risk. Currency exchange rates are constantly changing, which may affect the value of the investment in sterling terms. You could lose money in sterling even if the stock price rises in the currency of origin. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, and may have other tax implications, and may not provide the same, or any, regulatory protection as in the UK.

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More.

monitiseMonitise (LSE: MONI), the mobile transactions company, has announced that  Mike Keyworth, is standing down from his role as Chief Information Officer, and relinquishing his position on the company’s board, with immediate effect. After briefly rising after opening, Monitise’s share price has softened almost 1% in trading so far this morning.

Having joined Monitise in 2004 as the director responsible for delivery the company’s UK launch, Mr Keyworth was appointed  Chief Information Officer in October 2005, and joined the main board seven years later, in 2012. The company has said that he will stay on at  Monitise as a technology advisor.  

Commenting on My Keywoth’s departure from the CIO role and the board, Monitise co-CEO Alastair Lukies said:

Mike has made a huge contribution to Monitise over the years and been an invaluable member of our executive team…  He has been part of Monitise since its inception and at the very heart of our success. I am also delighted that he will continue to provide his invaluable technology insights and experience to the business.

Also leaving the board are Victor Dahir, who is Visa Inc.’s nominated board member, who resigned on Friday, 29 August, and David Dey, the senior independent non-executive director, who joined the board on Monitise’s admission AIM in June 2007,  who will leave the board after the AGM on 4 November.

Monitise has also announced that  Mike Dreyer, who was Global Head of Technology at Visa Ic, will be joining the company as President, Americas, overseeing major accounts in US, Canada and Latin America.

Co-CEO Alastair Lukies welcomed Mr Dreyer to Monitise’s senior leadership team, saying:

He brings technology, product, and sales experience at the highest level in the world’s biggest banks and technology companies. His appointment represents another important step in our journey to transition the business to a subscription-based model.

Monitise’s share price is down over 26% so far this year, twice the 13% drop of the FTSE AIM 100 over the same period, whilst the FTSE All-Share index has risen 0.6%.  However, over the past five years, Monitise is up 183%, versus just 30% by the AIM 100 index, and 44% for the FTSE All-Share.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Jon Wallis owns shares of Monitise. The Motley Fool UK owns shares of Monitise. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

More on Company Comment

Hand of person putting wood cube block with word VALUE on wooden table
Company Comment

Value has been building behind the Diageo share price

Despite the business growing, the Diageo share price first reached its current level just over 19 months ago and hasn't…

Read more »

Older couple walking in park
Investing Articles

5 stocks to buy for high and rising dividend income

I can see a host of shares to buy on the FTSE 100 offering me exceptional levels of income. Here…

Read more »

Young mixed-race woman looking out of the window with a look of consternation on her face
Investing Articles

I don’t care if FTSE 100 shares fall further, I’m buying them today

I'm happy to go shopping for FTSE 100 shares today, even though I accept that they could have further to…

Read more »

Happy young female stock-picker in a cafe
Investing Articles

Rolls-Royce shares are down 18% in a month and I’m finally going to buy them

Investors who bought Rolls-Royce shares have been repeatedly disappointed, but I'm willing to take a chance on them before they…

Read more »

Storytelling image of a multiethnic senior couple in love - Elderly married couple dating outdoors, love emotions and feelings
Investing Articles

How I’d invest £10k in a Stocks and Shares ISA today

Now looks like a good time to buy cheap FTSE 100 shares inside a Stocks and Shares ISA. These are…

Read more »

Black father holding daughter in a field of cows
Investing Articles

Today’s financial crisis is the perfect moment to buy cheap shares

I'm building a portfolio of FTSE 100 stocks by purchasing cheap shares whenever I see an opportunity. There's a good…

Read more »

Long-term vs short-term investing concept on a staircase
Investing Articles

I’d buy Tesco shares in October to bag their 5.4% yield 

Tesco shares have fallen lately but I think this makes them attractively valued for a dividend stock I would aim…

Read more »

Young mixed-race woman looking out of the window with a look of consternation on her face
Investing Articles

I would do anything to hold Diageo in my portfolio (but I won’t do that)

Diageo is one of my favourite stocks on the entire FTSE 100 and I'd love to hold it, but one…

Read more »