13th Aug 2015 07:57
LONDON (Alliance News) - IT services company Parity Group PLC on Thursday said it has made changes to its board in order to align it to the company's future needs and reveals plans for a major group cost-saving project.
Alan David Rommel who is currently chief executive officer of Parity Professionals IT services business, has been appointed to the board with immediate effect.
Michael Stuart Aspinall will be appointed to the board as finance director with effect from September 14 2015.
Executive Chairman Philip Swinstead, will be reducing his role from full time to three days a week later in the year.
Paul Davies, executive chairman of Parity Professionals, will be reducing his time commitment as a part-time executive director to two days per week with adjusted remuneration from September 1 2015.
David Courtley steps down from the board with immediate effect as non-executive director.
"This is part of our action plan to change strategic direction as announced previously and creates a smaller more appropriate board. At the interims in September we will give further details of our major cost-saving project across the group and comment on our future expectations," said Chairman Philip Swinstead.
Shares in Parity trade down 2.3% at 8.55 pence Thursday.
By Preten Patel; [email protected]
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
PTY.L