4th Nov 2015 14:17
LONDON (Alliance News) - IT services company Parity Group PLC Wednesday said it has appointed Roger Freeman as non-executive chairman of the company.
Founders Philip Swinstead and Paul Davies, who were Parity's executive chairman and executive director, consecutively, have stepped down from the board.
Chief Executive Alan Romnel and Group Finance Director Mike Aspinall remain in their roles as executive directors.
"I am delighted that our two executive directors have so quickly taken over group operations, implemented the GBP1 million cost-saving programme for 2016, and created an exciting organic growth strategy for the continuing business. Therefore Paul and I are able to hand over control formally to the new team, encouragingly more quickly than envisaged. We leave the ongoing business in good shape, with excellent plans for improving shareholder value in future years," Swinstead said in a statement.
Parity revealed a series of changes to its management team in August as part of a group-wide cost saving plan tabled the month before.
Shares in Parity were trading up 2.1% at 8.55 pence Wednesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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