XLMedia names David King as CEO

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