Pace axes its head of procurement

Pace's chairman Allan Leighton yesterday continued his shake-up of the troubled TV set-top boxes maker as another board director abruptly exited the company.

The chief operating officer David McKinney left with immediate effect just three weeks after the departure of chief executive Neil Gaydon. Mr Leighton said the board had decided to axe Mr McKinney's role. Pace's newly appointed chief executive Mike Pulli will take over Mr McKinney's responsibilities for operations and procurement.

The company has been hit by at least three profit warnings in the past year because of problems with its supply chain and the knock-on effect of autumn floods in Thai factories.