CEO Appointment

Hays PLC

24 August 2023

 

STRICTLY CONFIDENTIAL

LEI code:  213800QC8AWD4BO8TH08

FOR IMMEDIATE RELEASE                                                                                                     24 August 2023

Hays plc

CEO appointment

Hays plc ("Hays" or the "Company"), the leading global specialist recruitment company, today announces the appointment of Dirk Hahn as Chief Executive Officer ("CEO") with effect from 1 September 2023. This follows the announcement on 23 February 2023 that the Company had commenced a process to identify a successor to Alistair Cox.

The appointment follows a  thorough and rigorous recruitment and selection process led by the Nomination Committee of the Board, considering both internal and external candidates.

Dirk is a long-standing member of the Hays Executive Board and is currently MD of Hays Germany and CEMEA (Continental Europe, Middle East and Africa), where he oversees around 5,500 employees. Having been with the Company for over 20 years, Dirk led the expansion of Hays' German business, which has grown to become the Company's largest business representing over 30% of Group net fees. During his tenure Dirk has held roles including CEO of Hays' GSCN (German speaking countries and Nordics) where he doubled profits, and Group Head of Strategy, as well as other senior positions internationally. In his early career at Hays, Dirk ran the Information Technology and Engineering sectors within Hays in Germany.

Andrew Martin, Chair, commented:

"I am delighted to announce Dirk's appointment as Hays' next CEO. He was the standout candidate during our search process and brings extensive experience across the group, demonstrating exceptional leadership in international roles and building our German business into the success it is today. Dirk's strategic approach and deep internal and external relationships will enable Hays to continue executing on its growth plans, and I look forward to working closely with him in his new role.

I would also like to thank Alistair for his leadership of the Company over the past 16 years. During his tenure he has developed Hays into a global business with offices in 33 countries, with a leading position in many of those markets. The Company is well set for the next stage of its development, and I wish him all the best for the future."

Alistair Cox, Chief Executive Officer, commented:

"It has been a tremendous privilege to lead Hays for the past 16 years and I am extremely proud of what has been achieved, with our teams creating a global leader in the recruitment sector and with significant further growth potential. Having worked with Dirk throughout my tenure, he has been an integral member of the senior leadership team and has a deep understanding of the business, and I am confident he will make every success of the role." 

Dirk Hahn, CEO designate, commented:

"It is a privilege to be appointed CEO of Hays, having been with the Company for most of my career. Hays is a fantastic business with a leading global footprint, deep sector expertise and a talented management team across the group. It is an exciting time for the Company, which is well positioned for continued growth in key markets and disciplines, and I look forward to building on these strong foundations going forward."

Alistair Cox will step down as CEO and from the Board on  31 August 2023, and will be available to Dirk and the business to ensure an orderly transition until his notice period ends on 23 August 2024. Dirk Hahn will join the Board on 1 September 2023.

Notes: 

1.   There is no further information in respect of Dirk Hahn which would require disclosure under Listing Rule 9.6.13.

2.   Dirk Hahn's remuneration arrangements have been set in accordance with the Directors' Remuneration Policy approved by shareholders at the 2020 AGM and is also consistent with the Policy to be presented to shareholders at the 2023 AGM.   Dirk's remuneration package will comprise a salary of £620,000, a pension in line with the rate applying to the majority of the workforce, of 4% of salary, an annual bonus opportunity of 150% of salary and a Performance Share Plan award for 2023 of 200% of salary.   The Remuneration Policy will be set out in the 2023 Annual Report and Accounts.

3.   The information required to be disclosed under section 430(2B) of the Companies Act 2006 in relation to Alistair Cox will be available on the Company's website in due course.  Consistent with his contractual terms and the Remuneration Policy, Alistair will be paid salary, pension and benefits in the normal way until the expiry of his 12-month notice period on 23 August 2024.  As a good leaver Alistair will earn a pro rata FY24 bonus in relation to the period worked in the business during the year, will retain his outstanding deferred bonus awards and will retain a pro rata entitlement to outstanding PSP awards, all subject to the relevant conditions. Alistair will be bound by the post-cessation shareholding requirements in the Remuneration Policy, requiring him to retain Hays shares for a minimum of 24 months following his departure from the business. 

For further information please contact:

Hays plc:

David Phillips      Head of Investor Relations     [phone]

FGS Global:

Guy Lamming / Anjali Unnikrishnan at: [e-mail]

 

END