PIC Pace

TIDMPIC

RNS Number : 2642X

Pace PLC

18 November 2014

Pace plc: New Chief Financial Officer Appointment

Saltaire, UK, 18 November 2014: Pace plc ("the Company"), a leading global developer of technologies and products for PayTV and broadband service providers, today announces that after completing a thorough search and interviewing a high calibre shortlist , Mark Shuttleworth will be appointed as Chief Financial Officer and join the Board of Directors with effect from 12 January 2015.

Mark served as the CFO of Emirates Integrated Telecommunication Company PJSC, known as "du". He joined in the role in 2005 and was responsible for managing the financial and business investment strategy of the start-up operator; leading the $660m IPO of the business on the Dubai Financial Markets; and building the business to a market capitalisation of $8bn and revenues of $3bn. Prior to du, Mark was CFO of Qatar Telecom, "QTel" from 2003 to 2005. A Yorkshireman, Mark will be based at Pace's Saltaire HQ.

Mike Pulli, CEO, commented: "We are delighted to welcome Mark to the business. He is a highly experienced and established finance leader with an entrepreneurial spirit and track record of delivering great results. This background combined with a wealth of international experience working for both service providers and technology vendors will enable Mark to play a crucial role in Pace's continued progress".

Allan Leighton, Chairman, commented: "I am pleased Mark will be joining Pace. The Company has made great progress over the last few years but there remains a significant opportunity for further improvement. I strongly believe Mark will contribute materially in helping Pace to achieve even greater success".

Mark Shuttleworth was a director of ORA Telecom Ltd from May 1999 to May 2001, which was subsequently placed into receivership in November 2001 and European Telecom PLC between July 2001 and May 2002, which was placed into administrative receivership in May 2002. There is no further information required to be disclosed pursuant to LR9.6.13R in respect of Mark Shuttleworth.

-ends-

For further information please contact:

 
 Charles Chichester        Chris Mather 
 Pendomer Communications   Pace plc 
 +44 (0) 203 6035 220      +44 (0) 1274 538 330 
 

Note to Editors:

Biography - Mark Shuttleworth, Chief Financial Officer Pace plc

Mark Shuttleworth will be appointed as Chief Financial Officer and join the Board of Directors with effect from 12 January 2015. A Yorkshireman, Mark will be based at Pace's Saltaire HQ.

Most recently, Mark served as the CFO of Emirates Integrated Telecommunication Company PJSC, known as "du" (DU:UH). He joined du in 2005 and was responsible for managing the financial and business investment strategy of the start-up operator; leading the $660m IPO of the business on the Dubai Financial Markets and building the business to a market capitalisation of $8bn and revenues of $3bn.

Prior to du, Mark was CFO of Qatar Telecom "QTel" (now "Ooredoo", ORDS:YH) from 2003 to 2005. Mark has also served as Group Finance Director of European Telecom PLC, Group Finance Director at ORA Telecom Ltd and held a number of senior finance roles at Sensormatic Electronics Corporation Inc.

Mark qualified as an accountant with Lubbock Fine and later worked at Price Waterhouse as a Senior Manager in Corporate Restructuring.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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