XLMedia names David King as CEO

Performance marketing company XLMedia has tapped former Time Out chief executive David King to take over from outgoing CEO Stuart Simms.

XLMedia said on Friday that King will officially take the reins on 1 July but added that Simms will remain with the firm for an undetermined amount of time in order to ensure an orderly handover.

The AIM-listed group noted that King will join the company following a stint as CEO at JPIMedia Group, where he led the business through "a period of considerable change".

Chairman Marcus Rich said: "We are delighted to welcome David to XLMedia and believe that, with his significant digital publishing experience and proven track record of leading change, he will be a key asset in helping us capitalise on a number of growth initiatives.

"David's extensive knowledge of the media sector makes him the ideal candidate to lead the group and I and the board look forward to working with him."

As of 0815 BST, XLMedia shares were up 1.33% at 30.40p.

Reporting by Iain Gilbert at Sharecast.com