Iomart Group PLC Directorate Changes (5402Y)
September 10 2020 - 1:00AM
UK Regulatory
TIDMIOM
RNS Number : 5402Y
Iomart Group PLC
10 September 2020
10 September 2020
iomart Group plc
("iomart" or the "Group" or the "Company")
Directorate Changes
iomart Group plc (AIM:IOM), the cloud computing company,
announces that following over 20 years as Chief Executive Officer
of iomart Group plc, Angus MacSween, has confirmed his intention to
retire as CEO with effect from 1 October 2020. Reece Donovan, who
joined the Company and Board as Chief Operating Officer in March
2020, as part of the Board's succession planning, will assume the
role of Chief Executive Officer from that date.
Angus will remain on the Board as a Non-Executive Director for
up to 12 months to oversee a smooth transition and handover to
Reece.
Ian Steele, Chairman, commented:
"I'd like to thank Angus for the truly outstanding contribution
he has made to the success of iomart during his 22-year tenure.
Having founded the business in 1998, iomart has grown into one of
the UK's largest providers of managed cloud computing services with
annual revenues of over GBP100m and more than 400 staff. Angus has
focused on developing a robust recurring revenue business model
which has consistently delivered profitable growth with strong cash
flow. He leaves iomart in excellent health and well positioned for
the next phase of development. Reece has already made a great
impression since joining in March and we look forward to him
assuming the CEO role.
"On a personal level, I have enjoyed working with Angus
immensely, he is an inspirational individual and I wish him the
very best in his future pursuits."
Angus MacSween, Chief Executive Officer, commented:
"The appetite for cloud computing has grown considerably since
we purchased our first data centres in 2007, and yet the market is
still only in its infancy. Over the years, the business has
navigated all kinds of challenges and events and has been able to
prosper throughout. This has been due, in no small part, to the
hard work of the whole iomart team since inception. I would like to
thank everyone that has played a part in enabling iomart to be the
great business it is today and I look forward, in my new role, to
helping Reece continue drive the Company forward."
Reece Donovan, Chief Executive Officer designate, added:
"Having spent the last six months getting to know the business,
its people and customers, I am delighted to take on the role of
Chief Executive of iomart. Angus and the team have built a strong
position in the growing cloud computing market, with a reputation
for consistent delivery and I look forward to working with Scott
and the full iomart team to deliver upon the opportunity
ahead."
iomart will publish its normal pre close trading update for the
six months ending 30 September 2020 on 1 October 2020.
For further information:
iomart Group plc Tel: 0141 931 6400
Angus MacSween, Chief Executive Officer
Scott Cunningham, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Joint Tel: 020 7418 8900
Broker)
Edward Knight
Edward Allsopp
Nick Prowting
Investec Bank PLC (Joint Broker) Tel: 020 7597 4000
Patrick Robb
Virginia Bull
Sebastian Lawrence
Alma PR Tel: 020 3405 0212
Caroline Forde
Helena Bogle
About iomart Group plc
For over 20 years iomart Group plc (AIM: IOM) has been helping
growing organisations to maximise the flexibility, cost
effectiveness and scalability of the cloud. From data centres we
own and operate in the U.K., and from connected facilities across
the globe, we deliver 24/7 storage and protection for data across
the most complex of cloud and legacy infrastructures. Our team of
over 400 dedicated staff work with our customers at the strategy
stage through to delivery and ongoing management, to implement the
secure cloud solutions that deliver to their business
requirements.
For further information about the Grou p, please visit www.iomart.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOADKLFBBKLXBBF
(END) Dow Jones Newswires
September 10, 2020 02:00 ET (06:00 GMT)
Iomart (LSE:IOM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Iomart (LSE:IOM)
Historical Stock Chart
From Apr 2023 to Apr 2024