iomart CEO Lucy Dimes Resigns Amid Cloud Firm's Struggles
Company - People | Jun 02, 2025 | Business Cloud
iomart, a Glasgow-based cloud computing firm, has announced the departure of its CEO, Lucy Dimes. Her exit comes as the company grapples with financial difficulties following a £57 million acquisition of Atech and a projected 10% profit decline due to customer churn. Dimes, who joined the board as an independent non-executive chair in 2022 before assuming the CEO role in 2023, has had a notable career including executive positions at BT, Nokia, and Fujitsu, and currently sits on the board of Babcock International Group. With the firm's share price significantly dropping from its historical peaks, Richard Last will serve temporarily as executive chair while the company seeks a permanent CEO. The departure underscores the challenges faced by iomart in repositioning itself within the competitive cloud and security markets.
Sectors
- Cloud Computing
- Technology
Geography
- United Kingdom – iomart is headquartered in Glasgow, making the UK the primary geographic focus of the article.
Industry
- Cloud Computing – The article focuses on iomart, a company in the cloud computing industry, discussing its financial struggles and strategic shifts.
- Technology – iomart's business involves providing technological solutions related to cloud computing, implicating the broader technology sector.
Financials
- 57 million – The acquisition amount paid by iomart for Atech in October 2024.
- 28.8p – The current share price of iomart, showing a significant drop from past values.
- 10% – The potential impact on profits due to customer churn as warned by iomart.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| iomart | Target Company | Company | A Glasgow-based cloud computing firm undergoing executive and strategic changes. |
| Lucy Dimes | Former CEO | Person | Recently resigned CEO of iomart, with a background in senior roles across major technology firms. |
| Richard Last | Executive Chair | Person | Chair of iomart, assuming the role of executive chair following Lucy Dimes' resignation. |
| Scott Cunningham | CFO | Person | Chief Financial Officer of iomart. |
| Angus MacSween | Non-executive Director and Founder | Person | Founder of iomart and current board member with expertise in the private cloud market. |
| Ryan Langley | CEO of Atech | Person | CEO of Atech, a business under the iomart group focused on public cloud and security. |
| Atech | Acquired Company | Company | A company acquired by iomart in October 2024, expanding iomart's public cloud and security offerings. |