Godman leaves City Link
Stuart Godman has stepped down as managing director of City Link. Rentokil Initial – the parcel delivery company’s parent company – said Godman had resigned by mutual consent.
Alan Brown, CEO of Rentokil Initial, has assumed day-to-day management responsibility for City Link until a successor has been appointed.
The difficult trading conditions experienced by the business in the third quarter are continuing in the run-up to Christmas and as a result City Link’s full year performance is unlikely to improve upon the prior year, the company said.
City Link has also been affected by the severe weather conditions over the last two weeks.
However, a statement said that service levels have “otherwise remained excellent as a result of continuing investment in technology and improvements to the network infrastructure”.
The Company’s profit expectations for the full year remain unchanged, with the shortfall in City Link being largely compensated by performance elsewhere in the group.
Last year, reporting operating losses for City Link stood at £2.7m. The business reduced its operating losses by £2.3m to £4.7m during the first six months of the year, and made a Q3 operating loss of £1.3m.
