Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Pace lifted on chief appointment

Cathy Newman
Friday 03 October 1997 18:02 EDT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Shares in Pace Micro Technology, which have almost halved since the television set-top box maker floated last year, recovered 3p to 60.5p yesterday after the company finally appointed a new chief executive .

Malcolm Miller, European chief executive of Sega Enterprises, will fill the void left by Barry Rubery, the company's founder who quit last February.

Pace, which came to the market last June at 172p, has been in the doldrums for some time. Digital broadcasting, which will lead to the indroduction of hundreds of new TV channels, has been slow to take off around the world, delaying orders for Pace's set top boxes which are used to decode TV pictures.

Mr Rubery departure coincided with a profits warning. Steve Jones, Pace's finance director and co-founder, also resigned in June.

Mr Miller has been at the Japanese computer games manufacturer since 1994, and is to take his post at Pace before the end of the year. He spent 16 years at Amstrad, the computer and electronics company, and became managing director in 1992.

Peter Morgan, chairman of Pace, said: "He has expertise in the fast-moving competitive electronic retailing field and previous experience as managing director of a public company."

Mr Miller, who is 42, has successfully integrated Sega's consumer division, and has been credited with returning it to profit. At Amstrad, Mr Miller was largely responsible for the acquisitions of Viglen and Dancall. David Hood, another co-founder of Pace who had been sharing the chief executive's role with Mr Morgan, will become director of technology.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in