Gatemore “pleased” with DX Group reorganisation

DX Group shareholder Gatemore Capital has voiced its approval of the company’s decision to restructure and introduce board changes. As Post&Parcel reported this morning, DX Group is reorganizing the business into two new divisions, DX Express and DX Freight, and Chief Executive Officer, Petar Cvetkovic, and Finance Director, Daljit Basi, will be stepping down from the Board and the Company.

In a statement sent to PostParcel, Liad Meidar, CIO and Managing Partner at Gatemore Capital Management, said: “We are pleased with today’s announcement from DX Group, and we welcome the organisational changes. We are also pleased that revenue and profit appears to be in line with expectations.

“Since February we have been publicly calling for the Board to re-focus on the freight business and end the failed OneDX integration programme.

“This announcement makes clear that the Board is taking meaningful steps in that direction.

“Our working relationship with the Board has become more productive, and we will continue to be supportive of their efforts to unlock the potential of DX Group’s freight business.”