Diary: Pace - purchasing head to have direct line to CEO

Supply Management reported yesterday:

Set-top box manufacturer Pace has appointed a new purchasing director who will start at the end of the month. The new buying director, who starts on 23 January, will be responsible for the procurement function and report directly to new chief executive officer Mike Pulli. The shake up follows a challenging year for Pace, which saw it experience severe supply chain disruption problems following the tsunami in Japan and floods in Thailand. Pace chairman Allan Leighton said in a statement: "The new senior structure gives the CEO direct line of sight to the critical areas of the business."

Dare I say it, but it looks like Allan Leighton might actually sort this company out. On a PER of 4.3, PBV of 0.98, I'm hoping  that confidence will slowly return.