Dixon returns to head up IOS and Lateral
Wednesday, November 23, 2011
Lateral Group founder and former chairman Nick Dixon has returned to the business he sold to Innovative Output Solutions (IOS) in August this year, following the surprise departure of IOS chief executive Mark Felstead.
Dixon, who was unavailable for comment, will replace Felstead as the chief executive of the combined IOS and Lateral Group businesses from 1 December.
Dixon has been working as a part-time adviser to the board of the two businesses since selling Lateral Group to US-owned IOS three months ago and it was initially envisaged that he would be appointed to a non-executive role.
However, Felstead’s departure has resulted in Dixon returning full-time to take the helm of the £150m-turnover transactional and marketing communications giant.
There have been no other changes to the existing senior management team, which includes Lateral Group chief executive Jason Cromack, IOS chief operating officer Andy Young and executive vice-president Yolanda Noble.
IOS declined to comment on Felstead’s departure from his position as chief executive and Dixon’s appointment.
Felstead had been with the business for some 18 years, in which time he guided Dsi through its initial growth and merger with CMM and later with DST Output to form IOS.