DHI Group’s CFO Kevin Bostick has resigned effective September 1 to pursue other career opportunities, the company has announced.

Kevin Bostick

Bostick had directed finances of the publicly traded tech recruitment company since December 2019, nearly four years. 

DHI said it was searching for a replacement.

The company thanked Bostick for his service.  “I want to assure our internal and external shareholders that Kevin’s decision in no way reflects concerns with the business, financial reporting, internal controls, or disagreement with DHI’s management, operations, or financial practices,” DHI’s CEO and president Art Zeile wrote in the announcement.

But it comes at a difficult time for the company, with profits drying up and tech-sector unemployment on the rise. In May DHI announced a 10% headcount reduction and the departure of its COO, Chris Henderson, after a similar four-year tenure.

Revenue growth on an annual basis had slid four quarters in a row, from 28% in Q2 2022 to 4% for Q2 2023, and the company posted a small net loss in the most recent quarter after making profits in the previous two.

Last quarter, the company downgraded its full-year revenue guidance for 2023 from 10% year-on-year growth to low single digits. “Given the current hiring environment, and its impact on our second quarter results, we now expect total revenue for 2023 to grow 3% to 4% year over year, with third quarter revenue expected to be flat year over year,” Zeile explained.

Before DHI Group, Bostick was president and CFO of 365 Data Centers, from 2013 to 2017, and afterwards he ran his own financial consultancy during a non-compete period, according to his LinkedIn profile

Before that, he served as CFO at three different companies spanning residential rentals, media and telecoms.

Bostick’s career in finance goes back to the late 1980s and has included tenures at the consultancies KPMG and JP Morgan, according to his LinkedIn profile.  

 

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