press release
Next chapter for our parent company, LHi Group, with appointment of co-CEOs Mike Bott and Ben Richardson
Our parent company, LHi Group, has today announced a significant leadership transition as Jim Denning steps down from his role as CEO. In a bold move rarely seen in recruitment, the Board has appointed Mike Bott and Ben Richardson as co-CEOs to lead the business into its next chapter. Following five impactful years at the helm, Denning will be taking on a new position within the Group as Executive Director, where he’ll focus on developing future leadership talent – reinforcing LHi’s long-term commitment to investing in its people. “I’ve loved my time as LHi CEO,” said Denning. “I’m incredibly proud of the culture we've built together and I’m hopeful that I have left behind a legacy with the LHi Vision and our internal philosophies – stuff which I believe will outlive us all! I’m very excited to now be doing something that I have been passionate about for a long time, chasing my ‘future you’ by stepping into a new role that allows me to focus on the next generation of leaders who, I believe, will take LHi to even greater heights. I am incredibly proud to hand the reigns over to Ben and Mike, great humans who own two of the best stories of what’s possible in recruitment. I am certain they will take us to a level that I couldn’t even dream of!” The co-CEO structure isn’t a common move within the recruitment industry but was a decision that the Board felt was unequivocally right for LHi’s future growth plans. Speaking on the new leadership structure, Chairman, James Ash said “We know that in the right circumstances and with the right leaders, the co-CEO model works incredibly well. This model allows us to achieve so much more, to focus equally on building and innovating; to better navigate the complexities of the market and a fast-changing industry; and to more effectively operate on a global scale, from Germany to California. In Ben and Mike, we have two people who are willing to be selfless, put their egos aside, and care more about the success of the business than themselves. From joining as consultants to now becoming co-CEOs, I think you’d be hard pushed to find two people more committed to LHi and our vision.” Both Mike Bott and Ben Richardson are longstanding leaders at LHi, having both started their recruitment careers within the Group. Over the years, they’ve held a range of senior positions and played instrumental roles in launching and scaling operations across the UK, Europe and US, including opening and leading multiple international offices. Mike Bott, formerly Chief Commercial Officer, was one of LHi’s first consultants, joining the company over 17 years ago. He said “We’ve always been a business that bets on it’s people. I’ve had an incredible 17 and a half years of adventures with LHi and I’m extremely proud to now be leading the company alongside Ben. Our partnership works because we challenge each other, have total trust in each other, complement each other, and always put what the business needs before anything else. We are ready for the next adventure and the exciting times ahead.” Ben Richardson, formerly Chief Operating Officer, added “This is more than a title change, it’s a continuation of a shared journey. Mike and I have grown through every level of LHi, and we’re aligned on the vision and values that will take us into the next chapter. We're focused on building an agile, forward-thinking organisation that remains fiercely people-led.” The co-CEO model is becoming increasingly recognised for its effectiveness. A recent Harvard Business Review study of 87 companies with co-CEOs found they delivered an average annual shareholder return of 9.5%, compared to 6.9% for single-CEO firms. Nearly 60% of co-CEO-led companies outperformed their benchmarks, indicating the model’s power to enhance value through shared leadership. Not forgetting Netflix's co-CEO model which appears to be hugely successful, and largely credited to the complementary skill sets of Ted Sarandos and Greg Peters. It’s former CEO Reed Hastings said of Peters and Sarandos “Twice the heart, double the ability to please members and accelerate growth.” With Mike Bott based in the UK and Ben Richardson in the US, the duo will bring a global perspective and round-the-clock leadership coverage. Their complementary strengths, strategic commercial growth, and operational excellence create a leadership balance that reflects LHi’s commitment to innovation, diversity of thought, and employee wellbeing. Bott and Richardson are set to lead in a time when many recruitment firms are facing headwinds in the post-2022 landscape, however, LHi Group has recorded a positive year so far. On the three-year anniversary of launching its Employee Ownership Trust (EOT), LHi Group announced the successful completion of a capital raise, repaying 80% of capital owed to loan note holders well ahead of industry benchmarks - marking a significant financial and cultural milestone for the business. With the investment in to leadership training, continued plans for international growth and a new offering from their consultancy brand XPS launched this month, LHi Group’s 25-26 plans look to be an exciting start for the new co-CEOs. About LHi Group LHi Group is the parent company of five specialist, non-competing recruitment brands operating across the UK, Europe and USA.
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