Timico Technology Group has appointed a new CEO.

Ben Marnham takes over from Tim Radford, founder of the Nottinghamshire-headquartered managed IT, internet and communications service provider, on September 1.

Radford will become executive chairman with Lord Daresbury stepping down as chairman to become a non-executive director.

“I am delighted Ben has taken up the challenge of leading the business into our next phase of growth and development,” Radford said.

Marnham added: “I am hugely excited by the opportunity and looking forward to what Timico can go on to achieve.”

Marnham has over 20 years’ experience in telecommunications and has been a non-executive director on the board of Timico since May 2014.

He began his career at Alternative Networks, the UK IT solutions provider, where he worked for 18 years and most recently served as chief operating officer.

In 2013, Marnham founded 28 Capital Limited, an advisory and investment firm that seeks to maximise returns for telecoms and technology businesses.

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Timico, which made its debut as the new sponsor of the Cheltenham Gold Cup in March this year, continues to set its sights on ambitious growth.

2015 saw group turnover increase by over 25 per cent to £52.8m with pre-tax profit up by over 150% following two strategic acquisitions in spring that year: the managed IT specialist, Wirebird and the telecoms assets of Coms plc.

Radford added: “Advances in technology and changes in the way employees and their businesses work and communicate continue to drive the unstoppable shift towards all things cloud; we are perfectly positioned to make further inroads in this space.

“With the support of a highly experienced and dedicated team, Ben will develop a unified strategy based around the group’s capability of delivering fully-managed IT, network, unified communications and mobile solutions to business customers.

“His track record in the industry and the strategic contribution Ben has made to the group since joining the board make him the perfect candidate.”