Iomart CEO Donovan exits; Lucy Dimes to succeed

Lucy Dimes

Glasgow-based cloud computing firm Iomart Group announced on Monday that Reece Donovan will step down as chief executive officer and leave the company with immediate effect.

Iomart said executive chair Lucy Dimes will become chief executive officer on a full-time basis with immediate effect.

The firm said a search for a new chair will commence in due course.

Iomart had said on July 17 that Dimes would assume the role immediately of executive chair “on a part-time basis, with a focus on the further development of external facing corporate opportunities, alongside the executive directors.”

The company said in June it would continue “making selective acquisitions.”

Donovan joined the Iomart board as chief operating officer in March 2020 and became chief executive officer in September 2020.

The board would like to thank Reece for all his work in transitioning the business through the COVID-19 pandemic and energy crisis while helping to reposition Iomart’s managed service offering within the broader hybrid cloud marketplace,” said the company in a stock exchange statement.

On June 13, Iomart said its revenue increased 12% to a record £115.6 million in the year to March 31, 2023, “reflecting a combination of improved customer renewal levels, organic revenue growth within core cloud managed services, inflationary pricing adjustments  … together with the acquisition of Concepta …”