Allied Minds said President and CEO Jill D. Smith would retire on June 10. The company also touted progress on its plan to cut costs. The board had appointed Michael S. Turner and Joseph A. Pignato to serve as co-Chief Executive Officers, the company said. Mr. Turner had served as the company's General Counsel since May 2014, and Mr. Pignato had served as the company's Chief Financial Officer since August 2015. Ms. Smith would continue to serve on the board of directors of Federated Wireless as a representative of Allied Minds. The company also said it was making good progress achieving the planned reductions in annualised costs, consistent with the strategy outlined in April to reduce costs to $5-6m annually. More job cuts at its HQ was anticipated from the deconsolidation of portfolio companies, the company added. At 9:48am: (LON:ALM) Allied Minds PLC share price was +1.3p at 77.5p
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