Search Share Prices
Defenx parts ways with new chief executive
Cybersecurity software group Defenx has said goodbye to its chief executive officer a month after major shareholder, Italian cyber specialist BV Tech, upped its stake to 54.74% of the company as it narrowed its focus onto cloud-backup services.
Alessandro Poerio resigned in order to "pursue other interests", having taken over from previous boss and founder Andrea Stecconi on 21 November. He will be replaced by Tony Reeves, currently a non-executive director, on 31 May until Defenx appoints a permanet new chief executive.
Stecconi, founder and executive director, resigned from the board a month ago, as a planned part of the changed strategy, which was accompanied by .
Tony Reeves, Defenx's chairman, said, "I would like to thank Alessandro for his contribution to the company over the past six months, during which he has been instrumental in developing our new Defenx 2020 strategy."
"Despite the challenges that the company has faced in recent times, I believe that we have the right strategy in place and I look forward to taking the group forward to ensure we deliver profitable revenue growth in the medium and long-term," he added.
In a trading update issued to the market in February, Defenx warned investors that consolidated revenues from its last trading year would be "materially below" the year prior due to the cancellation of confirmed orders.
The Defenx 2020 strategic plan aims to narrow the focus of the the company's short- to medium-term development and sales efforts on cloud backup for the corporate market. "This strategy reflects the changing competitive landscape, growing demand for cloud-based services, feedback from existing and potential customers and the support of BV Tech, the Defenx Group's strategic partner."
As of 0850 BST, Defenx shares had lost 4.55% to 21p.