Stockholm, Sweden – October 12, 2020 – Cyber Security 1 AB, a multi-product and multi-jurisdictional leader in cyber security advisory and solutions, today announced the appointment of Robert Brown as acting CEO, effective immediately.
Brown brings over 26 years of experience in the IT security space, alongside a deep understanding of the CYBER1 business; its products; customers, skills and services. Brown is the original founder of DRS — CYBER1’s largest subsidiary — and was CEO when CYBER1 was first listed on Nasdaq First North Growth Market in 2016.
Brown will take over Peter Gustafsson who was appointed acting CEO on an interim basis on August 17, 2020 to lead the Company in the ongoing reorganisation process. Brown will play a central role in the restructuring, while at the same time, leverage his proven sales and management experience to drive commercial success across Europe, Middle East & Africa (EMEA).
Commenting on the appointment, Brown stated: “I am excited to be stepping into the role of acting CEO at such a crucial time for the business. CYBER1 has a strong management team and a group of talented employees, that are committed to the long-term success of the company. I thank the Board for their trust in placing me in this position and look forward to collaborating with them to navigate the company through the reorganisation and realise the inherent value of CYBER1 to its customers and shareholders.”
The move follows the August 2020 announcement by the company that it has signed an exclusive non-binding letter of intent to acquire the operations Cyber Security South Africa and Cyber Security Africa Distribution where Brown serves as founder and CEO. CYBER1’s due diligence process has been positive to date and the Board will ensure that the transaction will proceed at arm’s length whilst CYBER1 continues with this process.
More information on the identified acquisitions can be found here.
Regretfully, we also have to announce that one of the non-executive Board Members, Robert Blase is unable to continue his duties as a Board Member and has decided to step down.
The company will follow the necessary process in appointing new board members as required under its corporate governance obligations.
For further information, please contact:
Investor Relations Contact:
Mangold Fondkommission AB is the Company’s Certified Adviser.
CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in UK, Sweden, Kenya, South Africa, United Arab Emirates and the United States. Listed on Nasdaq First North Growth Market (Nasdaq: CYB1.ST), 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. CYBER1 had revenues of 68.73m EUR in 2019.
For further information, please visit www.cyber1.com/investors.
For all company filings and reports, please visit: cyber1.com/cyber1-investor-information/
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 2020-10-12 09:02 CEST.
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