CyanConnode PLC - Cambridge, England-based developer of narrowband radio frequency mesh networks - Names Executive Chair John Cronin as the firm’s new chief executive officer, effective immediately. This formally separates the CEO and chair role within the company. Also promotes Non-Executive Director Bjorn Lindblom to non-executive chair, effective immediately. Lindblom is the former CEO of Connode AB, which was acquired by Cyan PLC in 2016 to form CyanConnode.
Chief Executive Officer John Cronin said: ‘The business is entering a transformational phase and anticipates substantial growth in the coming years. Now is the right time to strengthen governance and enhance board independence.’
Current stock price: 7.93 pence, down 0.9% in London on Friday afternoon
12-month change: down 4.4%
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