Cyber Security 1 appoints new Chief Executive Officer and a Board member resigns

Business agreement

Cyber Security 1 AB (Publ) (Nasdaq First North: CYB1), today appointed Mr. Peter Gustafsson as Acting CEO to lead the Company in the ongoing reconstruction process and to further stabilize the business. The Cyber Security 1 Board of directors have reached an agreement with the current CEO and Board member, Daryn Stilwell, to leave his assignment as CEO with immediate effect. Stilwell remains as a member of the Board and is available for consultation during a transitional period. Thomas Bennett has, at his own request, chosen to resign from his position as a board member.

The company’s strategic focus remains unchanged and Mr. Gustafsson will initially put focus on completing the reconstruction process. Thereafter, the process of recruiting a new CEO will begin. Mr. Gustafsson is highly experienced in both financial restructuring and capital markets through his previous roles including Senior Partner at Deloitte and advisory roles at larger listed companies. Since July 27, 2020, he has held the role of Advisor to the Board of Cyber Security 1. Mr. Stilwell was elected as a member of the Board in June 2018 and took up the role of CEO of Cyber Security 1 in February 2020. Mr. Bennet was elected as a member of the Board at an Extraordinary General Meeting in January 2020. The company has convened an extraordinary general meeting on August 27, 2020, distributed in a separate press release on July 16, 2020.

Certified Adviser:

Mangold Fondkommission AB is the Company’s Certified Adviser.

Telephone: +46 (0)8 5030 1550

For further information, please contact:


Antoine Karam, Chairman of the Board Phone: +39 335 461 524 Peter Gustafsson, Acting CEO Phone: +46 (0)73 397 73 25 Fredrik Sätterström, Investor Relations Phone: +46 (0)70 510 10 22 Cyber Security 1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in UK, Greece, Sweden, Kenya, South Africa, Turkey, United Arab Emirates and the United States. Listed on Nasdaq First North Growth Market (Nasdaq: CYB1.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. Cyber Security 1 had revenues of 68.73m EUR in 2019.

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This information is information that Cyber Security 1 is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2020-08-17 21:25 CEST.

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