Role No: 1016 - APPLY FOR ROLE

One or more Non-Executive Directors (Non Execs, NEDs) are required for a digital start up within the consumer, health and lifestyle industry based in London.

Our early stage client has already raised seed capital in two rounds from insightful investors (£280,000) including two professional VC investors who have invested in a personal capacity and other serial investors. The mobile health & wellness marketplace (app) delivered by our client has nearly 70,000 users and a network of over 300 premium client brands selling their products via the app. Users are mostly UK-based but the app is also in beta testing for expansion into the US.  The product has received widespread press coverage from leading publications and enjoys very strong customer ratings and deep user engagement.

The innovative and exciting concept of the app results in effectively targeting a high value demographic interested in improving their wellbeing, with over three-quarters of users choosing to disclose their gender being women. Monetisation of the app has begun, and involves charging companies a listing fee and a per sale share of the revenue in order to post promotions to users.

The strong management lead has extensive relevant experience from a prestigious blue-chip company along with a business management education background. The technology platform is managed entirely in-house and led by a veteran developer who has prior experience in scaling mobile platforms to millions to users.

Our client is looking for one or more Non-Executive Directors to contribute to the continued growth of the company with specific experience as follows:

  • Successful track record of scaling and exiting a digital business as CEO, MD, or Board Member
  • Experience of growing a business internationally (especially the US market)
  • Expertise in the health and wellness with a strong contact network within: (i) health insurance / digital wellness / corporate wellness or (ii) premium consumer / healthy lifestyle brands

The Non-Executive Directors, in addition to adding value and contributing to the Board and the future success of the company, will be encouraged to become shareholders to align their interests with that of the existing Directors who are all shareholders.

The Non Execs will be remunerated through their shares and share options.

 

1. The Company and its Market:

  • The company’s business concept was conceived in 2014 and the company started trading in October 2014 in its test and development phase.
  • Their app relates to health & wellness and the community working with health and fitness brands in the UK to help encourage a healthy lifestyle. 
  • The company currently has two Directors and they are budgeting revenues of £200k in 2017/18 with a target of £2m+ in Y3.
  • The company aims to significantly increase the scope and volume of its business activities in the UK and potentially the US.
  • There are currently 40+ vendors signed up to revenue share (10% of topline plus small flat listing fee) with the roll-out of revenue sharing contracts in progress

 

2. The Non-Executive Director role

  • Our client is seeking one or more Independent Non-Executive Directors to join its Board to contribute skills and experience that the Board currently doesn’t have.  
  • The appointments will be for an initial 3 year period. This may be renewed by agreement.
  • The Non Exec will attend monthly Board/Management Meetings. Overall the time commitment is expected to be 1-2 days per month including preparation time; this will increase in the early months where induction will be required.
  • The company provides suitable D&O insurance for its Non-Execs.

 

3. Candidate Requirements:

  • A successful track record of scaling and exiting a digital business as CEO, MD or Board Member
  • Strong interpersonal skills with strong advisory capabilities and experience of being a Non-Executive Director. Strong and dynamic communicator / collaborator
  • Experience of growing a business internationally (especially in the US)
  • Expertise in the health and wellness with a strong contact network within: (i) health insurance / digital wellness / corporate wellness sector or (ii) premium consumer / healthy lifestyle brands
  • Experience of commercial partnerships
  • It is expected that the role will require approximately 1-2 days per month so candidates should demonstrate they have sufficient time availability.

The Non Exec will be encouraged to become a shareholder in the Company to align the incoming Non Exec’s interest with that of the existing Directors who are all shareholders. The company is registered for the EIS scheme which provides 30% tax relief and up to 100% capital gains relief subject to status.

The Non Execs will be remunerated through share options.

 

 

This role will close on Friday 7th April 2017

 

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