Glasgow-based cloud computing firm Iomart Group plc said on Thursday that its CEO Angus MacSween will retire on October 1, 2020 after 20 years in the role.
Reece Donovan, who joined Iomart 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.
MacSween will remain on the board as a non-executive director for up to 12 months to oversee a smooth handover to Donovan.
Iomart chairman Ian Steele said: “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 £100m 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.”
MacSween said: “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.”
Donovan said: “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.”