LONDON -- Perform (LSE: PER) climbed 1 pence to 386 pence in early trade this morning after announcing the appointment of Gabby Logan to its board of directors.
The FTSE 250 company, which owns the rights to broadcast various sports events through the Internet, said Logan would start work as a non-executive director from today. The 39-year-old television presenter currently hosts BBC Sport's Match of the Day and Final Score.
Commenting on the appointment, Paul Walker, the chairman of Perform, said:
We are delighted that Gabby Logan has agreed to join Perform as a non-executive Director. Gabby's in-depth understanding and insight into the worlds of sport and broadcasting will complement the Board's existing expertise and experience. We are looking forward to working with Gabby and are confident that Perform will benefit from her expertise as it continues to build on the success achieved to date.
Perform's 2011 annual report suggests Logan can expect to earn 48,000 pounds a year from her non-executive duties. The report also indicates she could earn a further 7,000 pounds if she ever became the board's senior independent non-executive, or collect a lucrative 150,000 pounds a year if she ever became chairman.
She will also be entitled to "reimbursements of reasonable expenses in connection with the discharge of duties," but will not, however, be eligible to participate in Perform's share, bonus, or pension schemes.
Logan may be expected to join her fellow non-executives on each of the audit, remuneration, and nomination board committees. One of her first tasks may be to help complete a review of the company's audit process, which the 2011 annual report cited would be undertaken this year.
The 2011 report also suggests Logan may have to attend more than 10 different board meetings a year.
Since its flotation during April 2011, Perform has, er, performed well for shareholders. The price has rallied from 260 pence to 385 pence as earnings surged 45% to almost 15 million pounds last year. So far during 2012, sales are running 44% ahead.
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