Pace Names Leighton Chairman


U.K. set-top maker Pace announced the proposed appointment of Allan Leighton as chairman, to replace Mike McTighe, who will be stepping down after 10 years as a director.

Leighton is former CEO of supermarket chain ADSA (now owned by Wal-Mart Stores) and former chairman of the Royal Mail. He has joined the board and is expected to be appointed chairman over the summer.

Leighton currently is a director of British Sky Broadcasting plc; deputy chairman of George Weston Ltd., holding company of Loblaw Co. Ltd.; chairman of Danish jewelry company Pandora A/S; deputy chairman of Selfridges & Co Ltd.; and chairman of Peacocks.

As part of his appointment, Leighton has agreed to purchase £200,000 (about $328,780) of Pace shares. Pace has agreed to make a share award to match his investment on a two-for-one basis, vesting after three years.