John Jones
About John Jones
John (Jack) Jones, age 70, has served as a director of IBEX since March 2018. He is a seasoned operations executive with 25 years at JPMorgan Chase, including more than 10 years directing offshoring and outsourcing, and later served as COO and Chief Client Officer at Expert Global Solutions until its sale to Alorica. Jones has consulted to TRG Holdings, LLC (an indirect subsidiary of TRGI) since 2017, and holds a B.S. in business management from the University of Phoenix .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Expert Global Solutions, Inc. | Chief Operating Officer | 2011–2016 | Led operations through sale to Alorica |
| Expert Global Solutions, Inc. | Chief Client Officer | 2015–2016 | Client leadership during strategic transition |
| JPMorgan Chase | Various leadership roles; Director of Offshoring and Outsourcing | 25 years; >10 years in offshoring/outsourcing | Built large-scale outsourcing and offshoring programs |
External Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| TRG Holdings, LLC (indirect subsidiary of TRGI) | Consultant | Since 2017 | Ongoing consultancy ties to former controlling shareholder TRGI |
| Other public company boards | None | — | No other public directorships |
Board Governance
- Committee assignments: Corporate Governance Committee member; committee chaired by Mohammed Khaishgi .
- Independence: IBEX determined independent directors to be Ballou-Aares, Batungbacal, Beck, McGinnis, and Zhuang; Jones is not listed among independent directors (non-independent) .
- Attendance: Each director attended at least 75% of Board and applicable committee meetings in FY2025; Board met 10 times, Audit 5, Compensation 2, Corporate Governance 1 .
- Board leadership: Chairman is Mohammed Khaishgi; CEO is Robert Dechant; no designated Lead Independent Director; if Chair/CEO combined, Board intends to designate a lead independent director .
- Hedging/pledging: Company prohibits hedging and pledging by directors under Insider Trading Policy .
- Controlled company transition: IBEX ceased to be a “controlled company” on Nov 19, 2024 and fully phased out exemptions by June 16, 2025 (majority independent board; fully independent Compensation Committee) .
Fixed Compensation
| Component | FY2025 Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer | $75,000 | Standard non-employee director retainer |
| Committee/Chair fees | $0 | Audit Chair fee raised by $15,000 effective post-Annual Meeting (not applicable to Jones) |
| Meeting fees | $0 | No meeting fees disclosed |
| Total cash | $75,000 | — |
| Stock awards (grant date fair value) | $0 | No director stock award granted to Jones in FY2025 |
Performance Compensation
| Program Element | Design | Vesting / Dates | Performance Metrics |
|---|---|---|---|
| Annual director equity grants (approved to commence post-2025 AGM) | Tenured non-employee directors to receive 4,166 share units; Chairman 4,500; new directors pro-rata; mix: 50% RSUs, 50% PSUs | Grants to be made following 2025 Annual Meeting; vesting schedules per award agreements | PSUs based on Company TSR relative to peer companies |
| LTIP framework (A&R 2020 LTIP) | New 10-year term; director annual comp cap $450k ($900k first year); default accelerated vesting on termination without cause within two years of change-in-control; anti-repricing; updated clawbacks | Plan effective upon shareholder approval Dec 5, 2025; awards subject to Administrator discretion | TSR-based PSUs for directors; broader metrics available under LTIP |
Note: IBEX historically did not grant annual equity to non-employee directors; discretionary RSUs were awarded to new directors Batungbacal, McGinnis, and Zhuang on Feb 14, 2025 (5,000 RSUs each; 25% vest quarterly from Apr 1, 2025). Jones did not receive these awards .
Other Directorships & Interlocks
| Person | Affiliation | Potential Interlock / Conflict |
|---|---|---|
| John Jones | Consultant to TRG Holdings, LLC (TRGI subsidiary) since 2017 | Ongoing ties to prior controlling shareholder TRGI; Jones deemed non-independent; potential conflict in governance oversight |
| Mohammed Khaishgi (Chairman) | CEO/chairman of TRGI; director/COO of TRG Holdings LLC; director TRG Pakistan Limited | Multiple TRGI roles while serving as IBEX Chairman may influence governance processes |
| Patrick McGinnis | Director of TRGI and TRG Pakistan Limited | TRGI affiliations on IBEX Board |
Related-party transactions with TRGI entities:
- Sublease: TRG Holdings LLC subleases/shared office space from Ibex Global Solutions, ended Oct 31, 2024; currently tenant-at-will; $12,203/month plus 50% operating expenses/taxes .
- Health & welfare plans: TRG Holdings LLC employees permitted to participate in Ibex Global Solutions, Inc. plans under a 2013 Third Party Services Agreement .
Expertise & Qualifications
- Operations leadership across BPO/client services; COO and CCO roles at Expert Global Solutions .
- Deep financial services outsourcing experience; led JPMorgan offshoring/outsourcing for >10 years .
- Global operations perspective; consulting to TRG Holdings since 2017 .
- Education: B.S. Business Management, University of Phoenix .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 23,753 | <1% of outstanding shares (asterisk in filing) |
| Common shares (direct/indirect) | 12,994 | As of Oct 3, 2025 |
| Options exercisable | 10,759 | Vested stock options included in beneficial ownership |
| Unvested RSUs/PSUs | 0 | No outstanding director stock awards as of Jun 30, 2025 |
| Pledged shares | None disclosed; pledging prohibited by policy | |
| Ownership guidelines | Not disclosed | No specific director stock ownership guidelines disclosed in proxy |
Governance Assessment
-
Strengths:
- Experienced operator with substantial outsourcing/offshoring expertise and prior COO/CCO roles; relevant to IBEX’s industry .
- Met attendance threshold (≥75% of Board/committee meetings in FY2025), suggesting baseline engagement; Board held 10 meetings; committees active .
- Company prohibits hedging/pledging; updated clawbacks and anti-repricing in A&R 2020 LTIP strengthen governance of equity awards .
-
Concerns / RED FLAGS:
- Non-independence: Board explicitly identifies five independent directors; Jones not included, reflecting ongoing consultancy ties to TRGI/TRG Holdings (former controlling shareholder) .
- Committee composition: Corporate Governance Committee comprises Jones and Khaishgi (TRGI CEO/chair); not composed solely of independent directors—while nomination oversight is handled separately by majority independent directors, CG committee structure may limit independent governance checks .
- Related-party ecosystem: Continued TRGI-related transactions (sublease; benefit plan participation) plus multiple TRGI-linked directors increase perceived conflict risk and potential influence channels .
-
Compensation alignment signals:
- 2025 director pay for Jones was all cash ($75,000), with no equity—limited ownership alignment in FY2025 .
- Board approved shift to include annual equity grants for non-employee directors post-AGM (50% RSUs/50% PSUs with TSR performance), which would improve pay-for-performance alignment if implemented consistently .
Fixed Compensation
| Year | Cash Retainer | Committee Chair/Membership Fees | All Other | Total |
|---|---|---|---|---|
| 2025 | $75,000 | $0 | $0 | $75,000 |
Performance Compensation
| Element | Grant | Vesting | Performance Metric |
|---|---|---|---|
| Director PSUs (program approved) | Tenured directors: 4,166 units (50% RSUs/50% PSUs) to be granted following the 2025 AGM | Per award agreements; PSUs contingent on performance | TSR relative to peer companies |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None for Jones |
| TRGI-affiliated roles on Board | Khaishgi (TRGI CEO/chair; TRG Holdings, TRG Pakistan), McGinnis (TRGI/TRG Pakistan) |
| Jones’s TRGI linkage | Consultant to TRG Holdings, LLC since 2017 |
Equity Ownership
| Component | Shares / Units |
|---|---|
| Common shares owned | 12,994 |
| Exercisable options | 10,759 |
| Total beneficial ownership | 23,753 (<1%) |
| Outstanding director stock awards as of 6/30/2025 | None |
Governance Assessment Summary
- Independence: Not independent; consultancy to TRG Holdings indicates potential conflict channel .
- Attendance: ≥75% participation; Board (10), Audit (5), Compensation (2), Corporate Governance (1) meetings in FY2025 .
- Committee influence: Member of Corporate Governance Committee chaired by TRGI executive; nomination duties handled by majority independent directors outside a formal nominating committee .
- Ownership alignment: Historically minimal equity; forthcoming equity program may enhance alignment if awarded and held (with TSR-based PSUs) .
- Policy safeguards: Hedging/pledging prohibited; A&R 2020 LTIP adds clawbacks, anti-repricing, CoC accelerated vesting (double-trigger) .
- Section 16 compliance: No delinquency noted for Jones; company disclosed limited late filings for others .