neil lloyd

Neil Lloyd, chief executive of loss-making delivery firm Yodel, has stepped down.

Turnaround specialist Lloyd was brought in two and a half years ago, with the self-stated goal of improving the firm’s customer service and improving its public image.

Speaking at the time, Yodel executive chairman Dick Stead said: “I am confident that Neil’s particular experience in customer service and change management will enable us to firmly establish Yodel as the pre-eminent delivery service in the UK.”

Despite this new focus, the company missed its self-set target of turning a profit in its most recently published financial year, finishing the twelve months ended June 31 2014 with a pre-tax loss of £73m.

A spokesperson for Yodel said: “We can confirm that Neil Lloyd has stepped down from his role as CEO at Yodel after two and a half years, and an announcement regarding his successor will follow in due course.”

Keith Basnett, Yodel's chief operations officer, is currently interim joint CEO.

The news came as Yodel revealed it had recruited Mark Horrobin to the newly created role of peak programme direct to strengthen and oversee the planning and execution of this year's Christmas peak.

Horrobin's CV includes board level positions at a number companies including Tesco Telecoms and AOL, and also two years at Onetel Communications where he was commercial director.

Early this month Yodel executive chairman Dick Stead warned of the impact of promotions such as Black Friday, one of the seasonal peaks carriers are struggling to service.

Lloyd's predecessor, Jonathan Smith, recently took the chief executive role at APC Overnight.