Paul Davies and Philip Swinstead, founders of talent management business Parity Group, are to step down from the company’s board and leave the business.

The move follows a management restructure and a revised group strategy focusing on its IT services business.

In a statement the group also revealed Lord Freeman has been appointed non-executive chairman and will remain chairman of the firm’s nomination and remuneration committees.

Recruiter contacted Parity Group for further details about Davies’ and Swinstead’s departures but had not heard back by deadline.