Logistics provider DX Group has appointed Mark Hammond as executive chairman.
It comes as the business announced a strong set of financial results, with revenues rising 12% to £428m and pre-tax profits rising 68% to £20.2m.
Hammond will take over from retiring chairman Ron Series, who spent five years at the business and lead the group’s successful recovery after an £82m loss in 2017, with immediate effect.
Hammond has over 25 years of experience in both the commercial and financial sectors, becoming a member of the Institute of Chartered Accountants of Scotland in 1991.
He was head of integrated finance at Bank of Scotland Corporate, before co-founding and managing private equity fund Caird Capital LLP.
He is currently senior independent director of Genuit Group, a provider of sustainable water, climate and ventilation management solutions to the construction industry, and a non-executive director of Chaffin Holdings, which provides arboricultural services.
“We are delighted to welcome Mark to the Board as executive chairman. His appointment is an important step as we progress plans for the group’s future growth and development to the benefit of all shareholders,” said DX Group senior independent director Jon Kempster.
Series said: “DX has announced an excellent set of results this morning and is well positioned for continued profit growth.
“Over the past five years, since I joined the board as executive chairman to help lead DX’s turnaround, the business has been transformed.
“I have full confidence in the management team and, with a solid platform now in place, look forward to the company continuing to deliver strong results in the coming years.”
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