DX Group has appointed a new chief financial officer after his predecessor left the business amid a flurry of resignations at the embattled operator last year.

David Mulligan will assume the role as CFO from 9 April. James Hayward, who has been acting CFO since July last year, will stay at DX for "a period" to hand over the role.

Mulligan joins DX from model railway business Hornby, where he was credited with a business restructure and turnaround. He also worked as the CFO for the Morgan Sindall Group between 2004 and 2013.

DX chairman Ron Series praised Mulligan's "impressive track record" and said he would be a valuable asset to the delivery company "as we progress our plans to revitalise DX and place the business on a sound footing for long-term growth".

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Former CFO Daljit Basi left the business in July last year after the group revealed it had had "an exceptionally difficult year".

He stepped down at the same time as CEO Petar Cvetkovic, after the group was subject to pressure from its largest shareholder to restructure its management team, and had its Exchange operation investigated by the police.

When the group's financial results were released in October, DX was revealed to have lost more than £80m in the year ended June 2017.

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