21 September 2023
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Corero Network Security plc
("Corero", or "the Company")
Directorate Change
Corero Network Security plc (AIM: CNS), a leading provider of distributed denial of service ("DDoS") protection solutions, is pleased to announce that Phil Richards, Chief Financial Officer and PDMR, is appointed to the Company's Board with immediate effect.
In addition, Andrew Miller who was appointed Interim Chief Operating Officer with effect from 1 March 2023 will step down from this executive role. Andrew will remain a Non-Executive Director of the Company.
The search process for the Chief Executive Officer role has commenced, with the appointment of an executive search firm. The Company will make an announcement in due course in this regard.
Jens Montanana, Executive Chairman, commented:
"I am delighted to welcome Phil Richards to the Corero Board. On behalf of the Board I would like to thank Andrew Miller for his contribution to the business since his interim role appointment following the management changes announced in February 2023."
Further Information
Philip Richards, aged 38, holds or has held the following directorships or partnerships in the past five years:
Current directorships or partnerships
Corero Group Services Ltd
Corero Network Security (UK) Ltd
Previous directorships or partnerships
Kambi Services Ltd
Whitgift Sports Club Ltd
Enquiries:
| Corero Network Security plc Jens Montanana, Executive Chairman Phil Richards, CFO | Tel: +44 (0) 20 7390 0230 |
|
Canaccord Genuity Limited (Nominated Adviser and Broker) Simon Bridges / Andrew Potts / Harry Rees | Tel: +44 (0) 20 7523 8000 |
|
Vigo Consulting Jeremy Garcia / Kendall Hill
| Tel: +44 (0) 20 7390 0230 |
About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS). For more information, visit: https://www.corero.com.
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