Business
Corporate Update & Board Changes
Corporate Update & Board Changes.
About this update from Dillistone Group Plc
[{"type":"text","content":"\n \nRNS Number : 2383X Dillistone Group PLC 18 December 2019 \n\n \nDillistone Group Plc\n(\"Dillistone\", the \"Company\" or the \"Group\")\nCorporate Update & Board Changes\n \nDillistone Group Plc, the AIM quoted supplier of software and services to the recruitment industry, today announces a corporate update and changes to its Board of Directors.\nCorporate Update\nAs announced earlier in February this year, Dillistone is undertaking a reorganisation to streamline its corporate structures and operations to achieve efficiencies across the business. The result will be a simplified structure of legal entities and team structures that have cross-Group responsibilities, rather than the previous siloed approach which was the legacy of the acquisitions made by the Group over its history. These changes will come into effect on 31 December 2019. \nAs anticipated, the costs of the reorganisation remain in line with our estimate of less than £600k and are being funded via the Group's existing resources and the £500k bank loan secured in June 2019. The benefits of the Group's reduced cost base will be seen from 2020 onwards.\nThe newly combined business units will be trade under the name \"Ikiru People\". The Company will however remain named Dillistone Group Plc\nBoard Changes\nTo complement the structural changes being made to the Group a number of changes are being made to the Board.\nMike Love will assume the post of Non-Executive Director on 31 December 2019 after 9 years as Chairman, to enable greater time for his other business interests. Giles Fearnley, currently Non-Executive Director, will assume the role of Chairman from this date. Giles is currently Managing Director Bus for First Group plc. His previous roles included being Chief Executive of Prism Rail Plc and Chairman of both the Association of Train Operating Companies and the Confederation of Passenger Transport.\nIn addition, Rory Howard and Alistair Milne will leave the business and stand down from the Board on 31 December 2019 and Paul Mather and Simon Warburton will join the Board from 1 January 2020. \n \nJason Starr, CEO of Dillistone Group Plc commented: \n\"I'd like to place on record our appreciation of the efforts of Mike, Rory and Alistair.\n\"Mike joined the Group on flotation, in...