CentralNic names Iain McDonald as chairman

Domain name retailer CentralNic elevated non-executive director Iain McDonald to the role of chairman on Monday, with immediate effect.

McDonald, the founder of CentralNic investor Belerion Capital, has been a board member of CentralNic since 2015 and also acts as a non-executive director at The Hut Group and Boohoo.com.

At the same time, current chairman Mike Turner will step down from the role but will remain on the AIM-listed firm's board as a non-executive director - effectively swapping places with McDonald.

Chief executive Ben Crawford said: "We are happy that Iain is stepping up from non-executive director to non-executive chairman of CentralNic.

"His in-depth understanding of the technology and e-commerce sectors, the businesses within them and their value will be instrumental to us as we seek further expansion, both organic and through acquisition."

As of 1330 GMT, CentralNic shares had shot up 12.71% to 66.50p.