Stock Market News
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.
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.
Related share prices |
---|
Defenx (DFX) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price