Tern appoints former BBC executive as FD

Technology investor Tern revealed finance director Laurence Reed left the board on 17 July but that it has appointed former BBC and Ernst & Young accountant Sarah Payne to replace him.

In a statement on Monday, the AIM-listed company said Payne, who formerly headed the team responsible for the BBC annual budget, would take up her post with effect from 1 September. She has more than 17 years of experience as a chartered accountant within a variety of senior management positions.

Payne also worked with Ernst & Young for six years, spending three of those within the global consultancy's corporate finance division.

Angus Forrest, chairman of Tern, said: "We are delighted to welcome Sarah to the Board. Her experience will be invaluable as we manage the growth of the existing businesses and acquire and sell companies."

Tern’s share closed at 6.75p on Friday.