The CFO of Crossword Cybersecurity Plc has resigned from the role just four months after joining.
Rose Clark joined in April with a view to joining the main board following the completion of a number of major projects. Now these are completed, she has decided to resign.
The company has also implemented a cost reduction programme involving both staff and other overhead cuts, with the aim of saving more than £1.2 million a year as it strives towards breakeven.
Clark has served as CFO of several AIM-listed companies, including as group finance director of Jelf Group plc, which acquired 20 businesses over two years, growing revenue from £15m to £75m, and as interim global CFO of technology business Eleco plc. She began her career at KPMG.
“A search is underway for a replacement and an announcement regarding that appointment will be made in due course,” stated Crossword.
This month a leadership transition took place, with CEO Tom Ilube stepping up to the role of non-executive chair and replaced by former group managing director Stuart Jubb.
Ilube, chair of the Rugby Football Union, founded Crossword in 2014 and has led the firm as CEO for the past 10 years.
“Rose departs with our thanks for the role that she has played as our CFO over the past few months on several important projects,” said Jubb. “She has provided great support and advice and I would like to thank her on behalf of the board for her help in setting us up for the next stage.
“We are continuing to focus on achieving EBITDA and cash breakeven in H2 2024 and have taken decisive action to reduce the cost base to a more sustainable level.
“We will focus on higher margin business going forward and will continue to monitor our portfolio of businesses to ensure that they meet that criterion.”