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Secure cloud services provider, iomart has announced its CEO, Lucy Dimes is to leave the company after just 20 months in office. Chairman, Richard Last (see here) becomes Executive Chair with immediate effect while the Board makes arrangements to fill the vacancy created by her exit.
Appointed as Chair of iomart in August 2022, Dimes assumed the additional responsibilities of CEO just over a year later following the swift departure of her predecessor, Reece Donovan (see here). Last summer she moved into the CEO role full-time. No reasons have been given for the somewhat abrupt end to her tenure at the company. Dimes has, however, presided over a challenging period at iomart as it seeks to it seeks to reposition itself as a hybrid cloud services provider with strong cyber offerings.
The company, which is rebranding under the name of the Microsoft solutions provider Atech which it acquired last October (see here), has certainly been making significant strides in the pursuit of its aims to become “Bigger, Better, Bolder”. The shift in focus has, however, not been pain free and iomart’s share price has fallen by almost 80% over the last year.
The latest trading update on FY25 (the twelve months ended 31st March) issued by the company in April reported that, while headline turnover was up 13% on the prior fiscal, organic revenue declined by 7% yoy and there had been a reduction in adjusted EBITDA from £37.7m to £34.3m (see here). There remains a significant amount of heavy lifting ahead for whoever is found to fill Lucy Dimes’s shoes.
Posted by: Duncan Aitchison at 10:01
Tags:
security
leadership
hybrid cloud