Corero Network Security PLC Appointment of Chief Executive Officer & Group FD (8769K)
April 27 2020 - 2:00AM
UK Regulatory
TIDMCNS
RNS Number : 8769K
Corero Network Security PLC
27 April 2020
27 April 2020
Corero Network Security plc
("Corero" or the "Company")
Appointment of Chief Executive Officer
&
Group Finance Director
Corero Network Security plc (AIM: CNS), announces the
appointment of Lionel Chmilewsky as an Executive Director and CEO
Designate of the Company with effect from 1 May 2020. It is
intended that Lionel will be appointed Chief Executive Officer of
the Company on 1 July 2020, at which point Ashley Stephenson,
Corero's current Chief Executive Officer, will be appointed Chief
Technology Officer remaining on the Company's Board.
Lionel Chmilewsky has over 30 years' experience in the
networking and telecommunications industries, most recently as CEO
of Cambridge Broadband Networks Limited (CBNL), a wireless access
solutions company. Prior to CNBL, he was CEO of Comverse IP
Communications, a provider of software and services solutions for
mobile, fixed-line and IP communications operators. Before joining
Comverse, Lionel held a number of senior sales roles, including EVP
Worldwide Sales for Proxim Wireless Corporation, a US-based NASDAQ
listed wireless systems manufacturer, and held sales management
roles in Europe and the USA for technology providers including
Alcatel.
In addition, Corero is pleased to report the successful
conclusion of the executive search for an experienced Group Finance
Director. Neil Pritchard, previously Group Financial Director at
technology business CML Microsystems PLC ("CML"), will join the
Company on 1 May 2020. Prior to joining CML, Neil held senior
financial positions with a number of quoted companies including
Continental AG, Delta PLC and Synthomer PLC. He is a Chartered
Accountant (FCA), having qualified with KPMG.
As previously announced, Andrew Miller has resigned as Chief
Financial Officer of the Company and will remain a director of the
Company, taking up the role of Non-executive Director.
Jens Montanana, Corero Chairman, said:
" We are delighted to welcome Lionel to Corero as we seek to
broaden our executive team to capitalise on the significant
opportunity for our market leading SmartWall technology and to
accelerate the Company's growth. We sought to complement our
existing skill set with an executive with a successful track record
of leading technology companies underpinned by extensive
multichannel sales experience. We believe Lionel will be an
excellent addition to Corero's executive management team and the
Board as we enter the next phase of the Company's evolution.
"We are equally delighted to welcome Neil Pritchard to Corero.
Neil is an experienced finance director, having previously worked
for London listed companies, who will also complement our existing
senior team.
"I would also like to extend my gratitude on behalf of the board
to Ashley for having led the organisation over the past seven
years, helping to pioneer and position our cutting edge technology
in the marketplace. We will continue to benefit from his extensive
experience and technology leadership in his new role as Chief
Technology Officer."
The following disclosures in relation to Lionel Chmilewsky aged
(58) are made in accordance with Schedule 2(g) and Rule 17 of the
AIM Rules.
Current Directorships/Partnerships Past Directorships/Partnerships
(5 years)
Chelsea Société Civile None
Immobilière
------------------------------------
Zirconium Société Civile
Immobilière
------------------------------------
Cambridge Broadband Networks
Limited*
------------------------------------
Cambridge Broadband Networks
(Pty) Ltd
------------------------------------
Cambridge Broadband Networks
Kenya Limited
------------------------------------
Cambridge Broadband Networks
Nigeria Limited
------------------------------------
Vectastar Limited
------------------------------------
*administrator appointed on 6 February 2020
Lionel Chmilewsky does not hold any shares in the Company.
Following his appointment, Corero intends to grant him 7,000,000
options over new ordinary shares of one pence each ("Options")
exercisable at the prevailing market price at the time of issue of
the Options. A further announcement will be made once the Options
have been granted.
On joining Corero, Neil Pritchard will not be a director of the
Company and o ther than the information contained in this
announcement, there is no further information required to be
disclosed under Rule 17 and Schedule Two, paragraph (g) of the AIM
Rules.
Enquiries:
Corero Network Security plc
Andrew Miller, CFO Tel: 01895 876 382
Cenkos Securities plc Tel: 020 7397 8900
Ben Jeynes / Mark Connelly - NOMAD
Michael Johnson - Sales
Vigo Communications Tel: 020 7390 0230
Jeremy Garcia / Ben Simons /Antonia Pollock
corero@vigocomms.com
About Corero Network Security
Corero Network Security is a leader in real-time,
high-performance DDoS defense solutions. Service providers, hosting
providers and digital enterprises rely on Corero's award winning
technology to eliminate the DDoS threat to their environment
through automatic attack detection and mitigation, coupled with
complete network visibility, analytics and reporting. This industry
leading technology provides cost effective, scalable protection
capabilities against DDoS attacks in the most complex environments
while enabling a more cost-effective economic
model than previously available. For more information, visit www.corero.com
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END
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