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DX Group PLC on Tuesday said that Chief Executive Lloyd Dunn will step down with immediate effect.
Dunn joined the Slough, England-based parcel freight, secure courier and logistics provider as CEO in October 2017.
He remains interested in 62.8 million DX shares, an 11% stake.
The company said it is beginning the search for a new CEO and will consider both internal and external candidates.
Until this new appointment is made, DX's two divisional directors, who lead DX Freight and DX Express separately, will report directly to the board. Further, Chair Ron Series will return to his role as executive chair until a new CEO is appointed.
DX added that it continues to trade in line with its expectations. It noted that it expects to deliver a ‘further improved performance’ in its new financial year to July 1, 2021.
Shares in DX Group were untraded at 30.00 pence each in London on Tuesday afternoon.
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