Senior management History of Albion's ownership and governance In the club's formative years, West Bromwich Albion were run by a seven-man playing committee, and funded by each member contributing a weekly subscription of 6d (six pence) (2p). Albion's first chairman was Henry Jackson, appointed in 1885, with the club becoming a limited company in June 1891. Other early chairmen of Albion included Jem Bayliss and Billy Bassett, both of whom had earlier played for the club. Indeed, from 1878 to 1986 there was always an Albion player or ex-player on the club's committee or board of directors. Bassett became an Albion director in 1905, following the resignation of the previous board in its entirety. The club was in deep financial trouble and had had a writ served upon them by their bank, but Bassett and returning chairman Harry Keys rescued the club, aided by local fund-raising activities. Bassett became chairman in 1908, and helped the club to avoid bankruptcy once more in 1910 by paying the players' summer wages from his own pocket. He remains Albion's longest-serving chairman, having held the position until his death in 1937. The club's longest-serving director was Major H. Wilson Keys, during the period 1930–1965, including 15 years as chairman. He became vice-president of the Football Association in 1969. Sir Bert Millichip served as Albion chairman from 1974 to 1983, after which he chose to concentrate on his role as chairman of the Football Association. In 1996, the club became a public limited company, issuing shares to supporters at £500 and £3,000 each, under the Chairmanship of Paul Thompson. The shares were quoted on the Alternative Investment Market, but the club withdrew from the stock exchange in order to become a private company again in 2004. The name of the company thus reverted from West Bromwich Albion plc to West Bromwich Albion Limited, the latter becoming a subsidiary of West Bromwich Albion Holdings Limited. Jeremy Peace took up the post in 2002, after a rift between previous chairman Paul Thompson and manager Gary Megson forced Thompson to quit the club. In September 2007, Peace acquired additional shares in West Bromwich Albion Holdings Limited, taking his total stake in the company to 50.56%. This triggered a requirement, under the Takeover Code, for him to make a mandatory cash offer for the remaining shares in both WBA Holdings Ltd and WBA Ltd. Later that year, Michelle Davies