Employee services provider Personal Group Holdings said it had acquired pay and reward consultancy Innecto People Consulting for £3m from Deborah Frost and Justine Woolf.
The company also it would appoint Frost, a current director, as its new CEO, replacing Mark Scanlon.
'Her wealth of experience in the reward and performance sector, as well as her contribution to the board since 2015, mean she is well-placed to lead the company through the next stage of its development,' chairman Mark Winlow said.
'I would like to thank Mark Scanlon for his immense contribution and leadership of the company over the last six years.'
'We wish him all the best for the future.'