Nasstar (stock code: NASA), the provider of hosted managed and cloud computing services, announces today that Peter Daresbury, has notified the Company of his intention to step down from the board after 12 years as Chairman. Peter’s decision will become effective on 23 October 2019 at which point Nick Bate will become Group chairman. Nick joined the Board as a non-executive director in January 2014 so brings a great deal of experience to the Chairman role, both from his time with Nasstar as well as from his roles with a number of private technology companies.
The Board is delighted to further announce that Ben Marnham has agreed to join the board as a non-executive director with effect from 23 October 2019. Ben is an adviser and investor in high growth businesses. He led and co-invested in the £50m private equity backed MBO of managed service provider Timico in 2017, where he also served as CEO for two years. At Solar Communications, where he served as Chairman between 2014 and 2017, he was part of the team that restructured the business which exited successfully to Wavenet in 2018. Ben was also one of the original team that grew Alternative Networks from a start up in 1994, to a turnover of £115m & EBITDA of £16.1m in 2012 in his final year.
Commenting on today’s developments, Nigel Redwood, Chief Executive commented:
“On behalf of shareholders and the rest of the Board I’d like to take this opportunity to thank Peter for his service to Nasstar over the last 12 years and in particular over the last five years since the transformational acquisition we completed in early 2014. Peter has been closely involved in the significant and successful progression of Nasstar and we have benefitted significantly from his guidance. We are delighted to welcome Ben to the Board in October, his experience will prove invaluable as Nasstar moves toward the end of the “10-19″ programme and beyond.”
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