25th Jul 2008 11:42
Pace plc announces Board changes
Pace plc to appoint two new Non-executive Directors
Saltaire UK: 25 July 2008: Pace plc (pic.l) has today announced the appointment of two new non-executive Directors, Mike Inglis, Executive Vice President and General Manager of the Processor Division at ARM and John Grant, Non-executive Director of Hasgo Group Ltd. Mike Inglis will join the Board on 25 July 2008 and John Grant on 1 August 2008. At the same time Rob Fleming and Marten Fraser are announcing their intention to step-down from the Pace Board, with Rob Fleming expected to retire at the end of September and Marten Fraser at the end of 2008.
Mike Inglis joined ARM as Executive Vice President, Marketing in June 2002 and was appointed to the board in August that year. Before joining ARM, he worked in management consultancy with A.T. Kearney and held a number of senior operational and marketing positions at Motorola. He previously worked in semiconductor sales, marketing, design and consultancy with Texas Instruments, Fairchild and BIS Macintosh and gained his initial industrial experience with GEC Telecommunications. He is a chartered engineer and a Member of the Chartered Institute of Marketing.
John Grant has spent his executive career in a variety of senior international roles within the automotive industry and other engineering businesses. In 2000 Mr Grant led a successful management buy-out of four specialist engineering businesses from Ascot Plc to form Hasgo Group Ltd and Peter Stubs Ltd. Prior to that, he was Chief Executive of Ascot Plc between 1997 and 2000. Mr Grant also worked as Group Finance Director for Lucas Industries Plc (subsequently Lucas Varity Plc) between 1992 and 1996 and held a number of senior positions within Ford Motor Company in Europe and the USA. Mr Grant is Non-Executive Chairman of Hasgo Group Limited and Torotrak Plc, and Non-Executive Director of Melrose Plc, MHP S.A. and Royal Automobile Club Ltd.
Pace chairman Mike McTighe commented: "I'm delighted to welcome two such experienced Directors to the Pace Board as our enlarged Group, following the acquisition of the Philips set-top box business, pushes ahead with its plans to build the world's best set-top box company. Mike and John will enable us to develop on what we have already achieved, adding new global perspectives through their extensive business experience in companies such as ARM and Ford and as Directors of listed engineering and technology companies."
He continues: "At the same time I would like to thank Rob Fleming and Marten Fraser for their outstanding contribution to Pace. Rob was part of Pace's founding management team and has been an integral part of our success for the last 25 years. Marten, joined the Board in 2005 and as Chairman of our Audit Committee has played an important role in the financial restructuring of Pace."
There are no matters in connection with these appointments to be disclosed under paragraph 6.F.2 (b) to (g) of the Listing Rules of the UK Listing Authority.
-ends-
For further information, please contact:
Pace plc +44 (0) 1274 532000
Helen Kettleborough
Brunswick Group LLP + 44 (0) 207 404 5959
Sarah West/Jonathan Glass
About Pace plc
Pace plc (pic.l) is a leading technology developer for the global payTV industry. Pace's main focus is on creating intelligent and innovative products and services that benefit our customers and fuel the development of digital TV. Over the last 25 years, Pace has developed one of the world's most experienced specialist engineering teams and is now the partner of choice for leading payTV operators across the globe.
Pace's international headquarters are in Saltaire, West Yorkshire, UK, with further offices in the USA, France, India and Hong Kong. For more information on Pace, please visit www.pace.com
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