iomart CEO steps down with immediate effect

Lucy Dimes, current executive chair, set to take over as CEO

Cloud computing vendor, iomart, has announced that Reece Donovan will be stepping down as CEO and leaving the company with immediate effect.

Donovan joined the board as COO in March 2020 and became CEO in September 2020.

iomart said they are grateful to Donovan and his work in transitioning the business through the COVID-19 pandemic and energy crisis while helping to reposition its managed service offering within the broader hybrid cloud marketplace.

Lucy Dimes, executive chair, will become CEO on a full-time basis, with immediate effect.

A search for a new chair will commence in due course, the company said.

The vendor was recently in the news for acquiring Microsoft Azure cloud solutions provider Extrinsica for £4m.

The acquisition was aimed at providing Glasgow-based iomart with Microsoft Azure expertise, a team of 33 based in the UK, customer references and a shared value and vision for how the Microsoft Practice in iomart should be shaped to support acceleration of growth.

Simon Smith, CEO and co-founder of Extrinsica said about the acquisition: "Joining iomart marks an exciting phase for our highly skilled, experienced and ambitious team, providing us with a strengthened platform for growth," Smith said.

"It allows us to leverage joint capabilities, capitalise on our understanding of the markets we operate in and build upon our significant achievements to date.

"iomart has a long pedigree in cloud infrastructure, an impressive customer base and a growth strategy which I believe positions iomart well for future success."

The Oxford-based Microsoft Azure partner offers managed Azure Cloud, Azure solution design and implementation services, support and optimisation services and licencing.

In 2010, Extrinsica was incorporated as a cloud services provider to micro businesses.

Its current business model was established in 2017, when it was invited by Microsoft to become one of the first 25 Microsoft Azure CSP partners worldwide.

It is now solely focused on the Azure public cloud.

For the year ended 31 March 2023, Extrinsica generated revenues of £7.4m, representing year on year growth of around 40 per cent, and EBITDA of £0.1m (unaudited).