Cyber security service provider ECSC Group has reappointed Ian Mann as CEO months after his resignation from the position.
Mann stepped down from his role and the board in April after the Bradford-based company posted significant losses. Despite his resignation, he remained a full-time employee and a major shareholder. Later that month, he rejoined the board as an executive director while chief financial officer Steve Hammell, who was slated to become the new CEO, and non-executive director Steve Vaughan resigned from the board. Lucy Sharp was then appointed interim CEO.
In a recent development, it has been confirmed this morning on the London Stock Exchange that Mann has resumed his position as CEO. Consequently, Lucy Sharp will return to her previous role as chief operating officer. “I am delighted to be resuming the role of CEO and look forward to meeting with investors to discuss our progress and strategy in the next few weeks,” Mann stated.
David Mathewson, who assumed the role of non-executive chairman from Nigel Payne in late April, expressed his satisfaction with the progress made since the board changes. He remarked, “The board has been pleased with progress since the board changes earlier in the year, and believes this new structure will give us a strong platform to continue to deliver our growth strategy.”
ECSC, which floated on the AIM market of the London Stock Exchange in December 2016, previously published a disappointing set of financial results for the 12-month period to 31 December 2017. The company reported lower than expected revenue growth and fell into the red with an operating loss of almost £3.2m after facing numerous challenges.
Established in 2000, ECSC describes itself as the UK’s longest running ‘full service’ information and cyber security service provider. It serves various sectors including education, retail, legal, financial, and local authorities. Its client list ranges from eCommerce start-ups to global organisations.
Mann’s reinstatement as CEO marks a significant development for ECSC Group. The board’s confidence in this new leadership structure underlines the company’s ongoing commitment to executing its growth strategy.