JOHN Menzies’ planned merger of its distribution arm with freight and logistics group DX may be impacted by a decision at DX to split its operations in two.

As part of a major restructuring, DX also announced the departure of its chief executive, Petar Cvetkovic, and finance director Daljit Basi.

Restructuring expert James Hayward has been named interim chief financial officer, but will not sit on the board.

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Mr Hayward will oversee the division of the group’s operations into DX Express and DX Freight. The Express division will be made up of its Exchange, Secure, and Courier operations and Mail activities; while the Freight division will comprise Logistics and its larger item delivery services DX 1-Man and DX 2-Man.

In a statement following the announcement, John Menzies said it “will continue to work with DX to establish the impact, if any, of DX’s announcement on the proposed combination of DX and John Menzies’ Distribution division”.

Menzies, which revealed in March it was to split into two separate entities, is combining its own distribution arm with DX through a reverse takeover.

DX said that its revenue for the to year to June 30 would be around £292m, with pre-tax profits in line with expectations.