Comment: Marketing Leeds latest as Pace commits to region

IT’S been an interesting week, and a somewhat difficult week, for set-top box maker Pace.

Neil Gaydon (pictured left), chief executive of the Saltaire-based company, admitted as much as he addressed the audience at Bradford Chamber of Commerce’s annual dinner on Friday.

Pace has completed a strategic review of its operations, which has identified the company needing a “sharpened focus”.

However, its profitability will continue to be hit into 2012 due to the aftermath of floods in Thailand which has hit supplies of the disk drives which essential to Pace’s products.

The consequences of the combined announcements has seen the company’s share price plunge to a quarter of its value earlier this year.

Chatting to Pace FD Stuart Hall last week, I asked if there was any feeling that the company had grown too quickly after following an aggressive acquisition trail.

Certainly not, retorted Hall, who believes that, despite its recent travails (and some pretty cutting reportage from the City press pack), Pace is set for a positive future.

For Gaydon, he was keen to emphasise to Bradford’s best the contribution Pace has made to the city and wider Yorkshire economy throughout its history, and since he became CEO in 2006.

He felt it was also important to stress that Pace would continue to be committed to Bradford and its HQ at Salts Mill, despite being a major stock market player and a global operator.

Mr Gaydon believes the reasons for that commitment are simple. Firstly, it is the company’s historic base. And secondly, the skills base from which to recruit staff is second to none.

These may be turbulent times for Pace, but with a raft of exciting new products out in the market and a strategy now in place to revisit its previous levels of growth, the Bradford Chamber audience was quick to acknowledge, and no doubt learn from, one of the region’s success stories.

::::

I MANAGED to have a quick chat at the Bradford Chamber dinner with someone close to the Marketing Leeds chief executive recruitment process.

The latest on the ongoing process is that following the most recent round of interviews (held last week) two contenders have been selected as outstanding candidates.

They will now be assessed by Andy Clarke, the Asda chief executive who is also chairman of Marketing Leeds, and whoever passes that test is likely to be given the role.

Indications are that the position will be filled before the festive season. Let’s hope that’s the case so we can all move on.

::::

A FINAL word on the fantastic turn-out at the Bradford Chamber dinner.

Given economic conditions are still seriously tough, for more than 400 people to attend a black tie dinner on a Friday evening is both testament to the strength of the Bradford business community and also the pull the Chamber still has in the West Yorkshire city.

The audience was a mix of the usual lawyers, accountants and professionals.

But a strong showing from manufacturers and other sections of the business community showed there is still a place for groups such as chambers of commerce that can bring businesses together and forge a positive spirit when it would be easy to give in.