Growth ambitions require differing roles
Freight management firm Xpediator switched up its executive team, with a number of key board members changing places.
Xpediator's chief executive officer Stephen Blyth will take over as executive chairman on 1 September, with his role set to be filled by chief financial officer Stuart Howard.
Having "grown substantially" since its AIM IPO in 2017, Xpediator told investors the positional changes were a reflection of its growth ambitions.
Blyth will now focus on the strategic direction of the group and M&A opportunities, while Howard will be responsible for over-seeing its day-to-day operational activities.
Alex Borrelli, currently Xpediator's non-executive chairman, will become a senior independent non-executive director.
The search for a new chief financial officer and a new independent non-executive director were already underway.
Elsewhere, Xpediator confirmed that trading was in line with market expectations, with demand for freight management services remaining strong across all three divisions.
Xpediator also noted it had a good pipeline of M&A prospects made up of a range of bolt-on opportunities - each of which would add "significant value" to the group