CentralNic Group PLC (AIM:CNIC) has announced the appointment of its chief financial officer (CFO) Michael Riedl as the group's new chief executive with immediate effect.
The global internet software company said Riedl succeeds Ben Crawford who is retiring following a 13-year term during which he oversaw CentralNIC’s IPO in 2013 and drove the group’s revenues from just US$2mln to US$700mln.
Riedl was appointed CFO in February 2019 following the company's acquisition of KeyDrive SA, where he had been CFO since 2011. William ‘Billy’ Green, CentralNIC’s current financial director, will succeed Riedl as the company's CFO in a non-board capacity.
In a statement, CentralNIC chairman Iain McDonald commented: "On behalf of the board, I thank Ben for his many years of excellent service to the company. It has been a privilege to oversee him growing and skilfully pivoting CentralNic into the outstanding company it is today.
“We appreciate his foresight to build a strong team around him which was immensely helpful to the board. On a personal note, it has been a pleasure to work with Ben."
Crawford added: “Michael has brought a wealth of industry experience and excellent strategic and leadership skills to CentralNic, and I am delighted that he will be our new chief executive officer.
"I have every confidence in Michael Riedl, my close business partner for the past four years, and his team to continue the extraordinary growth and cash conversion that are key to CentralNic's investment case. I will remain an enthusiastic shareholder and supporter of the company for many years to come."