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cyan AG announces the early extension of the contract with Executive Board member and CTO Markus Cserna and the downsizing of the Executive Board to two members

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DGAP-News: cyan AG / Key word(s): Personnel
22.12.2021 / 18:00
The issuer is solely responsible for the content of this announcement.

cyan AG announces the early extension of the contract with Executive Board member and CTO Markus Cserna and the downsizing of the Executive Board to two members

Munich, December 22, 2021 - The Supervisory Board of cyan AG has decided to decrease the size of the Executive Board of cyan AG to two members. The appointment of Martin Wachter to the cyan AG Executive Board will be rescinded and the duties will be split between the existing members of the Executive Board, Frank von Seth and Markus Cserna.

At the same time, the management contract with Markus Cserna (42) was prematurely extended by two years until December 31, 2024. The current contract originally had a term until December 31, 2022. Markus Cserna is one of the founders of today's cyan AG and has been a member of the Executive Board since 2018. Together with Frank von Seth, he will continue to drive the transformation and, as before, manage the Group's technological areas as Chief Technology Officer, CTO.

Gerd Alexander Schütz, Chairman of the Supervisory Board of cyan AG: "As part of the realignment of cyan AG, costs will be reduced at all levels and an agile as well as lean organization will be created. We are therefore glad that Markus Cserna, with his many years of expertise, is going to continue to be a major part in securing the company's technological leadership, further developing solutions and products, and implementing the strategy in a sustainable way. For us, this is an important signal of stability and a cornerstone for the further development of the company."

About cyan

cyan AG is a leading, globally active provider of intelligent cyber security solutions and platforms (BSS/OSS) for telecom companies with more than 15 years of experience in the IT industry. The company's main business areas are IT security solutions for end customers of mobile and fixed network internet providers (MNO, ISP), mobile virtual network operators (MVNO) and financial service providers. The solutions provided by cyan are integrated as white label product into the infrastructure of the business partners, who then offer them to their end customers in a B2B2C model, under their own brand.

Today the group has numerous international customers, through which cyan's products are distributed to end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cybersecurity. In addition, cyan operates its own research & development center with the aim of identifying industry trends at an early stage and developing optimal product solutions. Besides Orange, cyan's customers include among others Claro Chile (América Móvil Group) as well as the telecom group Magenta (T-Mobile).

Further information is available at www.cyansecurity.com.

cyan AG Investor Relations:

cyan AG
Tel. +49 89 71042 2073
E-Mail: ir@cyansecurity.com

cyan AG Media and Press:

Better Orange IR & HV AG
Tel. +49 89 88 96 906 17
E-Mail: vera.mueller@better-orange.de


22.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

cyan AG

Theatinerstraße 11

80333 Munich

Germany

Internet:

www.cyansecurity.com

ISIN:

DE000A2E4SV8

WKN:

A2E4SV

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1261369


 

End of News

DGAP News Service

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