Dillistone Group (DSG: LSE), the UK-based supplier of recruitment software to the international recruitment industry announced an update today. The group also announced changes to its Board of Directors.

As announced earlier in February 2019, 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,” the group said.

These changes will come into effect on 31 December 2019.

“As anticipated, the costs of the reorganisation remain in line with our estimate of less than £600,000 and are being funded via the group's existing resources and the £500,000 bank loan secured in June 2019,” Dillistone said. “The benefits of the group's reduced cost base will be seen from 2020 onwards.

The newly combined business units will trade under the name "Ikiru People".  The company will however remain named Dillistone Group Plc.

Dillistone also announced that Mike Love will assume the post of Non-Executive Director on 31 December 2019 after nine 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. 

Fearnley is currently Managing Director for First Group’s bus division. 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.

Dillistone also announced that Rory Howard and Alistair Milne will stand down from the Board and leave the business on 31 December 2019 and Paul Mather and Simon Warburton will join the Board from 1 January 2020. 

Mather is currently Operations Director of the Voyager Software division and becomes Chief Operating Officer of the Group with effect from 1 January 2020.

Jason Starr, CEO of Dillistone Group Plc commented, "Paul Mather and Simon Warburton joined Dillistone through the acquisition of Voyager in 2011 and have been instrumental in designing the new operating model being adopted through the reorganisation.”

"Dillistone has grown through acquisition so a step change in how those previously separate businesses operate was required,” Starr said. “This reorganisation has already shown significant benefits and will be for the benefit of all stakeholders.   With Simon and Paul stepping up to the main board, and with the reorganisation now largely complete, the Board is very excited about the future."