Appointment of CEO

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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