Ding founder Mark Roden steps down as chief executive

Ding founder and chief executive Mark Roden has stepped down from the business after 17 years, with the company appointing Mark O’Donoghue to the role.

Mr Roden, who founded the Irish mobile top-up service provider in 2006, will remain a director, shareholder and adviser to the company. The company provides international top-up and credit transfers to millions of customers globally.

Mr O’Donoghue was most recently head of Inspired Education Group, where he oversaw the creation of its online division and guided it through acquisitions and growth strategies that has seen the business increase its profitability eightfold in three years.

“Ding is a company that has purpose at its heart and meets a real need in the world,” Mr O’Donoghue said. “I am delighted to take on this role and I look forward to working with the incredible team to bring Ding to the next phase of growth.”

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Ding has also appointed a new chairman, with chairman of Oxford Nanopore Technologies, Duncan Tatton-Brown, taking up the role. Mr Tatton-Brown was also previously chief financial officer of Ocado, and sits on the boards of Cazoo Group and Trainline.

“In 2006 we set out on a mission to address a real need – how people separated from their loved ones could stay connected to those back home. I am very proud to say that Ding is now trusted by millions of people worldwide and contributes significantly to the economic and social welfare of so many customers throughout emerging markets,” Mr Roden said. “I would like to thank our entire Ding team for making the company what it is today, and I am very confident that in Mark O’Donoghue we have an outstanding leader who will take Ding to the next stage of its incredible growth. I also look forward to working alongside Duncan Tatton-Brown and the rest of the board as Ding enters a new strategic phase.”

The shuffle has also seen Jonathan Rockett promoted to managing director alongside his chief financial officer responsibilities.

The past few years have seen significant milestones at the company. In 2021 the company sold a majority stake to private-equity firm Pollen Street Capital in a deal that industry sources estimate the equity value at about $300 million. That was its first external capital, having bootstrapped the company previously.

Last month Ding passed the $5 billion mobile top-up milestone, with more than 100 million mobile phones topped up through the service.