July 14 (Reuters) - British mail delivery company DX Group said on Friday its chief executive and finance director will step down with immediate effect and it will separate its operations into courier and freight divisions.
The reorganisation follows DX’s agreement to acquire John Menzies’ distribution arm through a reverse takeover in June.
DX said it would split its business into DX Express and DX Freight and the reorganisation would give greater flexibility in managing costs.
Nick Cullen, its current chief operations officer will head DX Express and Stuart Godman, currently chief commercial officer, will be head of DX Freight, it said.
Chief Executive Officer Petar Cvetkovic and Finance Director Daljit Basi will step down from the board with immediate effect.
On July 7 the group said that it had made changes to internal businesses processes at its collection and delivery service DX Exchange, after a preliminary police investigation last month which was later dropped. (Reporting by Rahul B in Bengaluru; Editing by Susan Fenton)