Ad-hoc - cyan AG: Frank von Seth becomes new chairman of the board15/09/2020
cyan AG / Key word(s): Personnel
cyan AG: Frank von Seth becomes new chairman of the board
Munich, September 15, 2020 - The Supervisory Board of cyan AG today appointed Frank von Seth (50) as the company's new Chief Executive Officer (CEO) with effect from January 1, 2021 for a period of 3 years. Frank von Seth has decades of sales and management experience with multinational companies such as AON or Euler Hermes and succeeds Peter Arnoth, who has been CEO for many years and whose contract expires on December 31, 2020 and who did not extend it at his own request. Mr. Arnoth will remain associated with the company in an advisory capacity. The contracts of the Management Board members Markus Cserna (CTO) and Michael Sieghart (CFO) were also extended until the end of 2022. Furthermore, there is a change in the company's Supervisory Board. The long-standing member Volker Rofalski has resigned from office for personal reasons with effect from December 31, 2020. For the vacant position, the Supervisory Board will propose the largest single shareholder of cyan AG, Alexander Schütz, as his successor.
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan's solutions are integrated into the business partner's infrastructure and then offered to their end customers ("B2B2C") under their name ("white-labeled").
Today, the group of companies has more than 50 international customers, through which cyan prod-ucts are sold to approximately 50 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan's cooperation partners include the world's leading insurance broker Aon or Magenta Telekom.
Further information is available at www.cyansecurity.com.
Florian Rukover, Head of IR
Better Orange IR & HV AG
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|EQS News ID:||1131511|
|End of Announcement||DGAP News Service|