The LBi Board of Directors is elected by a General Meeting of Shareholders and constituted so as to efficiently support and monitor management’s performance. When necessary, employees attend Board meetings to present a report or serve in an administrative capacity.
The rules of procedure describe the Board’s duties in greater detail. They govern how the Board is to work, how often it is to meet and the types of matters it is to discuss. For instance, the rules of procedure state that the Board will regularly assess the company’s financial status, set objectives for the company’s business and supervise compliance with the rules and plans that have been established.
Framfab and LB Icon merged in August 2006 under the LBi brand, and created a leading international digital agency network. The new Board consisting of Katarina G. Bonde, Michiel Mol, Fred Mulder, Robert Pickering and Sven Skarendahl was effective as of August 2006.
In 2007 the Board held 15 meetings, of which 8 by correspondence and one following election.
The Board kept its focus on improving resource utilisation and continually evaluated potential acquisition targets on the basis of established criteria.
Matters addressed by the Board during 2006 and 2007 include:
- LBi acquires Starring in December 2006 and becomes market leader in Stockholm
- Acquisition of majority stake in India off shore company Vizualize Technologies in March 2007
- Implementation of new financial reporting and controls under first half of 2007
- Acquisition of Creative Digital Group in Atlanta, US in May 2007.
- Paris office opening in July 2007
- Acquisition of Syrup in New York in the US, Satama NL in Amsterdam and Iven & Hillman in Berlin in autumn 2007.