SThree CEO Elden bows out early next year

Gary Elden is to step down as CEO at STEM staffing specialist SThree after six years in the role.

Along with a trading update for year ended 30 November 2018 issued late last week, the group revealed Elden will step down early in the new year, at a date yet to be determined but expected to be by the firm’s April 2019 AGM. The recruitment process for Elden’s successor is already underway.

Elden, the founder and managing director of SThree firm Huxley Banking & Financial Services, became SThree’s chief strategy officer back in 2007, working his way up to deputy CEO in 2012 and eventually CEO in January 2013.

Commenting on his impending departure, Elden said he had been privileged to be part of SThree for almost 30 years and was proud to have led the group as CEO during a major period of its growth and development. He expressed his gratitude to the SThree board for their support and encouragement, and to the agency’s staff around the world for all their commitment and hard work.

The trading update revealed the group had managed to post a 12% increase in gross profit year-on-year, with GP up from £287.6m to £320.9m.

GP was up across the group’s sector disciplines led by the group’s energy division – up 30% on the previous year. The only sector to see a drop in GP was life sciences – down 1% year-on year.

GP was also up across the group’s region of operations led by Continental Europe – up 20% year-on-year. The group saw GP growth across all regions, with the exception of the UK & Ireland where GP was down 5% on the previous year.

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