Fresh blow for recruitment giant as CEO resigns

Staffline CEO Chris Pullen has tendered his resignation, the company has revealed.

In a statement released this morning (20 February) the Nottingham-headquartered recruitment and training group said Pullen had made his intentions known to the Board yesterday. He has held the role since January 2018.

Pullen will continue to carry out his duties during his notice period while the group begins a formal search for a replacement.

This is the latest in a string of blows for the troubled company, whose net debt position at 31 December 2019 is expected to be £60 million subject to audit.

Earlier this month the firm issued a fresh profit warning – its second in a matter of weeks – indicating that its profits for the year ending 31 December 2019 were likely to be “materially below” its previous guidance due to net charges incurred following an end of year audit.

This followed a day of drama in December when Staffline’s share price plummeted to a five-year low after the firm downgraded its profit forecast from around £20 million to between £10 million and £12 million. It attributed the slump to “challenging” trading conditions caused by high levels of consumer uncertainty across the UK.

Tracy Lewis, non-executive chair of Staffline, said: “I would like to thank Chris for his contribution to the business as both chief executive and previously finance director. Chris has led the business through very difficult circumstances and we wish him well for the future. I look forward to announcing a new CEO in due course.”