(Alliance News) - Iomart Group PLC on Monday said its chief executive officer has stepped down and will leave the company with immediate effect.

The Glasgow-based cloud computing company said Reece Donovan, who joined the board as chief operating officer in March 2020 and became CEO six months later, will be replaced by Executive Chair Lucy Dimes as CEO on a full-time basis, effectively immediately.

As a result, Iomart said a new chair will begin in "due course".

"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 Iomart.

Iomart said it will release a trading update for the six months ending September 30 in October.

Shares in Iomart were down 2.2% to 169.16 pence each in London on Monday afternoon.

By Greg Rosenvinge, Alliance News reporter

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