FINANCIALS: Hahn takes over from Cox at Hays, posts record net fees

Global specialist recruitment firm Hays has announced the appointment of Dirk Hahn as CEO, with effect from 1 September 2023.

The news follows the announcement on 23 February that the company had begun a process to identify a successor to Alistair Cox.

According to a statement from the company, the appointment follows a thorough and rigorous recruitment and selection process led by the Nomination Committee of the Board, considering both internal and external candidates.

Hahn is a long-standing member of the Hays Executive Board and is currently managing director of Hays Germany and CEMEA (Continental Europe, Middle East and Africa), where he oversees around 5,500 employees. 

He has held roles at Hays including CEO of Hays’ GSCN (German-speaking countries and Nordics), and group head of strategy, as well as other senior positions internationally.

Outgoing CEO Alistair Cox commented: “It has been a tremendous privilege to lead Hays for the past 16 years and I am extremely proud of what has been achieved… Having worked with Dirk throughout my tenure, he has been an integral member of the senior leadership team and has a deep understanding of the business, and I am confident he will make every success of the role.”

Hays has also announced its preliminary results for the year ended 30 June 2023, posting record net fees of £1.29bn, growing 9% from £1.19bn, with growth in temp fees of 9%, while permanent fees climbed 3%.

However, the recruiter announced a fall of 6% in pre-tax profit (£192.1m from £204.3m), and warned net fees would dip in the first half of the coming financial year. 

“Overall, we expect group net fees will decline year-on-year in H1 FY24, driving a reduction in first half conversion rate year-on-year,” the firm said in a statement.

“Overall, temp volumes remain stable. Conditions remain tough in perm globally, with reduced client & candidate confidence driving increased time-to-hire.”

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