Feb 27 (Reuters) - British recruiter Hays announced the departure of CEO Dirk Hahn on Friday and slashed its dividend by 84% as a tough hiring market caused by economic and political uncertainties
Hays cuts dividend 84% as CEO Dirk Hahn exits amid weak hiring
Hays CEO departure, dividend cut and profit hit as hiring market weakens
CEO Dirk Hahn exits; interim leadership announced
Feb 27 (Reuters) - British recruiter Hays announced the departure of CEO Dirk Hahn on Friday and slashed its dividend by 84% as a tough hiring market caused by economic and political uncertainties dented its half-yearly profit, sending shares 6% lower.
Hahn is stepping down immediately after nearly two and a half years in the role, citing personal reasons. Hahn briefly took medical leave in November 2025 and returned in January this year.
He will be replaced by chief digital and technology officer Mark Dearnley on an interim basis.
Hiring slowdown weighs on net fees and shares
Hays on Friday reported a 9% fall in first-half like-for-like net fees blaming economic and political uncertainty for slower permanent hiring and weaker client demand.
Hahn’s tenure and strategic background
Prior to taking on the CEO role, Hahn led Hays' expansion in Germany, which now accounts for 33% of its net fees.
The 57-year-old German national replaced Alistair Cox as CEO in September 2023 to lead the recruitment firm at a time when hiring activity was declining and candidates were becoming more wary of switching jobs.
"During his tenure, he demonstrated exceptional leadership, notably in building our German business and resetting Hays' strategy," Chair Mark Findlay said in a statement.
Shares in Hays have more than halved in value during Hahn's tenure, in line with its rivals for that same period.
Profit falls; Germany remains a pressure point
The group reported pre-exceptional operating profit of 20.1 million pounds ($27.07 million) for the six months ending December 31, 2025 compared with 25.5 million pounds a year earlier.
German segment challenged by labour market weakness
The company's German segment has continued to struggle due to a sluggish labour market and rising unemployment. German public and private companies have cut average working hours to manage costs, hurting temporary and contracting revenue at Hays.
Dividend cut details and exchange rate
The company cut its dividend to 0.15 pence from 0.95 pence for the period.
($1 = 0.7424 pounds)
(Reporting by Simone Lobo and Nithyashree R B in Bengaluru; Editing by Sonia Cheema and Tomasz Janowski)
