Pebble Beach Systems plans cost reductions, terminates executive chair
Shares in Pebble Beach Systems Group are up more than 1% after it issued plans to pursue a cost-reduction strategy, which has seen a notice of termination served on executive chairman John Hawkins and closure of the company's Head Office function.
FTSE AIM All-Share
741.06
11:35 19/04/24
Pebble Beach Systems Group
10.50p
16:55 18/04/24
Technology Hardware & Equipment
1,920.18
16:30 11/04/24
Hawkins had ceased with immediate effect to carry out the role of executive chair. Notice had also been served on the six members of the Head Office team.
Non-executive director John Varney would become non-executive chairman, supported by the other two current non-executive directors.
Pebble Beach said the Head Office function was no longer required as the company now had a single operating subsidiary, Pebble Beach Systems Ltd, which operated form a stand-alone site.
At 13:05 GMT, shares in AIM-listed Pebble Beach were up 1.19% to 10.62p.