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Robert.Jervis_43227 Jun 15

CEO steps down at Xpediator

CEO steps down at Xpediator image
Formal process to appoint a new permanent CEO has commenced
Xpediator has announced that, with immediate effect, Stephen Blyth will step down as CEO of the Group, but will continue as a Director in the position of Founder and Non-Executive Deputy Chairman.

Stephen's desire to step away from the role of CEO was previously announced last summer but given the prevailing circumstances he agreed to stay on as CEO. Given health concerns, Stephen has decided that now is the right time for him to spend more time with his family.

A formal process to appoint a new permanent CEO has commenced which will include internal and external candidates. In the interim, the Board has appointed from within the business two of the senior management team, Robert Ross and Danor Ionescu, to jointly cover the position of CEO. Robert and Danor will report into the Board, with responsibilities split as follows:

Robert Ross, currently Group CFO and a Board Member, will maintain responsibility for Group finance. He will take responsibility for Affinity and will also manage all UK-based entities.

Danor Ionescu, currently COO Logistics Romania, will manage the entities in continental Europe from his base in Vienna. Danor currently manages the successful Pallex Romania entity and also Logistics Romania. Danor will therefore take on the additional responsibility of the business units in Continental Europe, except for Affinity, and lead Group Sales activity.

As non-executive Deputy Chairman, Stephen will also chair a newly formed M&A committee as well as being appointed a member of the audit committee.

Commenting on the changes, Stephen commented:

"It has been over 32 years since I started the business. The business has now grown to annualised turnover in excess of £200.0 million and has over 1,000 employees. Working from home over the previous three months due to COVID-19, has reinforced my decision to step down from the day to day responsibilities of CEO. I very much look forward to remaining on the Board and providing opportunities to help further grow the business through chairing the M&A committee. I wish Robert and Danor much success in their new interim positions and will assist in the identification of a new CEO to lead the Group in the next phase of its growth."