Appointment of CEO
31/01/2023 07:00
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RNS Number : 3103O DX (Group) PLC 31 January 2023
AIM: DX.
DX (Group) plc
("DX" or "the Group")
Appointment of Chief Executive Officer
DX, the provider of delivery solutions, including parcel freight, secure
courier and logistics services, is pleased to announce the appointment of Paul
Ibbetson, Managing Director of DX Freight, as Chief Executive Officer of the
Group. His appointment takes immediate effect and accordingly, Mark Hammond,
Executive Chairman, relinquishes his executive role to become Non-executive
Chairman.
Paul has over 25 years' senior experience in the freight, parcels and
logistics sectors. He joined DX in November 2017 as a senior member of the
incoming turnaround team. Since then, he has led the DX Freight division as
its Managing Director and has been instrumental in its transformation to
profitability, cash generation and growth from its prior position of
substantial losses. He has also been responsible for the division's
restructuring, including the sales and commercial functions. Paul is retaining
responsibility for the management of DX Freight in the short-term until a new
appointment is made.
Before joining DX, Paul worked at Tuffnells Parcel Express where he was a
Board Director for eight years and played an important part in the successful
turnaround of the business, leading to its sale to Connect Group in 2014.
Before that, he worked respectively at Target Parcels Express for 10 years
in senior management roles and at Business Post for seven years.
Mark Hammond, Chairman of DX (Group) plc, commented,
"Paul has been an important member of the DX senior management team since he
joined the Group in 2017. He has a very strong record of success and is highly
regarded by his colleagues. We are delighted to welcome him as DX's new Chief
Executive Officer and are confident in his ability to lead and shape the
Group's ongoing growth."
Paul Ibbetson, Chief Executive Officer of DX (Group) plc, commented,
"I am delighted to take up the role of Chief Executive Officer. I believe that
DX is in a strong position to build on the firm foundations that have been
established over the last five years and has further significant growth
opportunities ahead of it. We have a highly experienced and talented team, and
I look forward to working alongside all my colleagues and the Board to drive
the next stage of DX's development."
AIM Rules, Schedule 2(g) disclosures:
The following disclosures are made in accordance with Schedule 2(g) of the AIM
Rules.
Paul John Ibbetson, aged 51 years, holds or has held the following
directorships and partnerships, listed below, within the last five years. He
also has a beneficial interest in 3,826,041 ordinary shares of the Company,
representing 0.64% of the Company's issued share capital. In addition, he
holds options over 4,447,385 ordinary shares pursuant to the Company's
Performance Share Plan 2017.
Current directorships/partnerships Past directorships/partnerships
DX Network Services Limited PTI Management Consultants Ltd
There are no further details to be disclosed under Schedule 2(g) of the AIM
Rules for Companies in respect of Paul Ibbetson.
Enquiries:
DX (Group) plc www.dxdelivery.com
Mark Hammond, Chairman T: 020 3178 6378
Paul Ibbetson, Chief Executive Officer
David Mulligan, Chief Financial Officer (c/o KTZ Communications)
finnCap (Nominated Advisor and Joint Broker to DX) T: 020 7220 0500
Matt Goode/Simon Hicks (Corporate Finance)
Andrew Burdis/Charlotte Sutcliffe (Corporate Broking)
Liberum (Joint Broker to DX) T: 020 3100 2000
Nick How/William Hall
KTZ Communications T: 020 3178 6378
Katie Tzouliadis/Robert Morton/Dan Mahoney
About DX (Group) plc:
DX is a well-established provider of a wide range of delivery services to both
business and residential addresses across the UK and Ireland. First
established in 1975 as a Document Exchange service to the legal sector, DX now
provides one of the widest ranges of overnight delivery services in the
market, as well as logistics services. Items that DX transports range from
confidential documents and valuable packages to large, awkward-to-handle
freight, unsuitable for automated conveyor.
DX Freight: comprises DX 1-Man, DX 2-Man and Logistics. The Division
specialises in the delivery of irregular dimension and weight freight ("IDW").
DX Express: comprises DX Parcels and DX Exchange and Mail. The Division
specialises in the express delivery of parcels and documents.
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