17th Apr 2014 10:39
LONDON (Alliance News) - The Rethink Group PLC Thursday said it has slimmed down its board of directors, and created a new operational executive board that will focus on implementing its recently-outlined three-year growth strategy.
Last year, Rethink launched a three-year strategic plan with the objective of ensuring that over 60% of its performance is derived from its talent management services through long-term client relationships, with the remaining 40% coming from recruitment services. The strategy's purpose is to deliver sustainable and recurring revenue streams.
In a statement Thursday, Rethink said its new executive board would comprise Chief Executive Steve Wright, Chief Operating Officer Andy Lord, Chief Financial Officer ben Felton, and executives Michael Bennett, Iain Blair, Fergal Brosnan, Steve Greenwood, and Rob O'Callaghan.
It has streamlined its board of directors to five members: Non-executive Chairman John O'Sullivan, CEO Wright, CFO Felton, and non-executive Directors Peter Crystal and John Kirkham.
"The PLC board will concentrate on supporting the Executive Board in the formulation and review and execution of group strategy, investor relations and maintaining strong standards of corporate governance," the company said in a statement.
Rethink has made a number of executive changes in the past year, with Wright taking up his position on a permanent basis in 2013 and John O'Sullivan, previously interim chairman, taking on his role on a permanent basis. Rethink appointed Felton as its new chief financial officer earlier this month.
The Rethink Group shares last traded at 6.25 pence.
By Steve McGrath; [email protected]; @SteveMcGrath1
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