LONDON (ShareCast) - (ShareCast News) - 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.
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.

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