Shock for Spring Group as its chief executive resigns_2

Richard Barfield is to quit as chief executive of IT recruiter Spring Group.

Richard Barfield is to quit as chief executive of IT recruiter Spring Group.

At the end of September, he will be succeeded by Peter Searle, until recently Adecco's top executive in the UK and Ireland.

Barfield, who has been chief executive of Spring for four years, is leaving to look after his seriously ill son. He told Recruiter that the decision to leave Spring had been "quite an easy decision to make" in light of his son's long-term medical difficulties.

He added that he was pleased "to leave Spring in a position that's stronger than it has been for some time, and happy to have organised a smooth transition and enough time for a sensible handover".

His comments reflected a renewed optimism about Spring's prospects, following the release of its latest trading results.

The results were announced on the same day as Barfield's departure. Spring reported a profit of £1.8m for the first six months of 2006, compared with a loss of £4.6m a year earlier. Central costs declined by 23%. Analysts have upped their profit forecasts for the year following the announcement of Spring's figures.

Barfield is credited with having led the IT recruitment company back into profit under a restructuring and reorganisation programme after a difficult trading period in which margins suffered. The programme of what Barfield has called "radical change" included a 15% headcount reduction, giving up the lease on several properties, and closing unprofitable businesses.

Prior to becoming chief executive at Spring, Barfield had been the company's finance director for two years.

Commenting on his appointment as Barfield's successor, Searle said: "I am honoured to be given the opportunity to lead the company."

Meanwhile, Barfield plans to continue in his role of chairman of the Recruitment and Employment Confederation (REC).

REC deputy chief executive Marcia Roberts told Recruiter, "Richard has, and continues to be, a first-class chairman and an excellent ambassador for the recruitment industry."

Barfield, in line with his contract, will receive a year's termination payment. His basic salary was £338,000 in 2005. He earned £446,000 in 2004, including a bonus.

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