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Specialist recruiter the Rethink Group (AIM: RTG) has announced a board shakeup today as CEO Jon Butterfield has stepped down with immediate effect. But to ensure a smooth transition, the firm has secured a “consultancy agreement” with him for a fixed period of 12 months.
The firm did not say why Mr Butterfield had left his post. With over 25 years’ experience in IT and IT staffing services, he is one of the founding directors of Rethink Group. During his career Mr Butterfield worked at companies such as Computer People Group, which was later sold to Adecco. He also co-founded IT staffing company Best International Group which was acquired by Spring Group in 2003.
Chief financial officer Steve Wright has meanwhile been appointed interim CEO while Andrew Lord, managing director of the recruitment division, is now the chief operating officer with immediate effect. The recruiter also said that former finance director Patrick Dundon has been appointed to interim director of finance and will report to Steve Wright.
In September last year, Rethink reported an unexpected decline in its recruitment division during the summer months. The firm then expected full-year results for the 2012 financial year to be below market expectations.
Rethink Group provides business services through three divisions, including recruitment, talent management and technology. The firm operates from the UK, Ireland, Singapore, the US and the Middle East.