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OnMobile Concall Live: Improving Corporate Gov, Focus On Few Products, D2C

OnMobile Global is hosting a conference call, an important call given the recent turn of events. Typing really fast, so please pardon the typos (will edit them later). 1630 hrs: Tony Haight (Chairman): Our focus is on improving our corporate governance. We're going to have mor eindependent directors, who will check whistleblowers policy, code of ethics. There will be a new delegation of authority matric, and we've enganged an independent entity to study our business practices and identifying risk. Senior talent is being recruited for checking regulatory compliance. All existing related party contracts have been terminated. Steps have been taken to ensure that business is not affected. KPMG: Have been taking care of internal audit at Onmobile for the last few years. We would like to say that the state of internal controls are in the management hands. Mouli Raman (co-founder and Interim MD): We have been through ups and downs in the past, and have come out much stronger and we're confident that a similar thing will happen. We have been engaging with employees, customers and partners. We have explained to employees about the way forward and are determined. Existing customers appreciate that what we have done is right and our corporate governance. They have extended their support in continuing the business going forward. We have closed two international deals in the recent past, and we will share more details soon. We dont see losing any deals in the near future. Team members have been given additional responsiblity and…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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