Board change at cyan: Frank von Seth succeeds CEO Peter Arnoth

15/09/2020
Board change at cyan: Frank von Seth succeeds CEO Peter Arnoth
  • Peter Arnoth remains associated with cyan AG in an advisory capacity
  • Contracts of Markus Cserna (CTO) and Michael Sieghart (CFO) extended until the end of 2022
  • Alexander Schütz joins the Supervisory Board

Munich, September 15, 2020 - The Supervisory Board of cyan AG today appointed Frank von Seth (50) as the company's new Chief Executive Officer (CEO) with effect from 1 January 2021 for a period of 3 years. Peter Arnoth, CEO of cyan for many years, will not extend his management contract, which expires on 31 December 2020, at his own request. However, Peter Arnoth will remain associated with the company as a consultant for the long-term. The management contracts of the two members Markus Cserna (CTO) and Michael Sieghart (CFO) were also extended until the end of 2022.

Peter Arnoth, CEO of cyan AG: "Since I joined cyan in 2011, we have achieved a lot. We have signed contracts with T-Mobile, Orange and AON, among others, and have successfully gone public. It is now time to pass the baton to my successor. With Frank von Seth, the Supervisory Board has gained an absolute expert. I have known Frank for many years, and I am absolutely convinced that he will take cyan to the next level with his international sales and management experience.

Over the past ten years, Frank von Seth has held various management positions at the world's leading risk adviser AON. Most recently, he was Chief Commercial Officer for Austria and Switzerland. There he was able to conclude numerous large contracts with multinational clients. Prior to that, Frank von Seth worked for QBE Insurance and Euler Hermes Kreditversicherungs AG, including about eight years in Japan and Australia.

Stefan Schütze, Chairman of the Supervisory Board of cyan AG: "We are pleased to welcome such a successful international sales professional on board and would like to thank Peter Arnoth for his great commitment in the past years. Frank von Seth has been extremely successful in selling very complex product packages to large corporations in recent years and will ideally strengthen the board of cyan AG with his know-how and network".

There is another personnel change in the supervisory board: Volker Rofalski will leave the board at his own request on 31 December 2020. The Supervisory Board would like to thank Volker Rofalski for his commitment and support over the past three years. The Supervisory Board will propose Alexander Schütz, one of the largest investors in cyan AG, for the court appointment as a new member of the Supervisory Board. The founder and CEO of C-QUADRAT Investment AG has been a member of the Supervisory Board of Deutsche Bank AG since 2017. Stefan Schütze, Chairman of the Supervisory Board of cyan: "With Alexander Schütz, we are proposing a very successful and experienced entrepreneur for the Supervisory Board of cyan AG. The willingness to stand for election to the Supervisory Board also impressively documents the long-term interest of Alexander Schütz as an investor".

About cyan:

cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan's solutions are integrated into the business partner's infrastructure and then offered to their end customers ("B2B2C") under their name ("white-labeled").

Today, the group of companies has more than 50 international customers, through which cyan prod-ucts are sold to approximately 50 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan's cooperation partners include the world's leading insurance broker Aon or Magenta Telekom.

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