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[Music] january 2011 i was the cfo at the merton a very profitable high-tech company with revenues of over 400 million fortunes have been boosted a few years earlier when it acquired the s1 technology behind a revolutionary radar system the launch of s1a our first system has surpassed all and was followed by two more successful versions i was preparing in january 2011 for the first board meeting to be chaired by roger roger had tillman appointed to succeed our long-standing german who had retired through ill health wed all been surprised as wed expected an appointment from within the existing board richard dalton had arrived as ceo two years previously just before the launch of s1c while the board had been criticized for the size of richs remuneration package he had delivered impressive sales for s1c solid results from other divisions and a string of strategic acquisitions his deferred share bonuses when the richs focus was still on long-term share price growth at the end of 2010