Crossword Cybersecurity Plc has revealed a leadership transition which will take place in August.
CEO Tom Ilube (pictured) will step up to the role of non-executive chair and be replaced by Stuart Jubb, currently group managing director.
Current chair Sir Richard Dearlove will continue to serve on the board as a non-executive director.
The firm says the “long-planned changes” are intended to “best position Crossword for the next few years of growth as it seeks to achieve EBITDA profitability in the second half of the year”.
Ilube founded Crossword in 2014 and has led the firm as CEO for the past 10 years. He currently serves as chair of the Rugby Football Union (RFU) as well as on the board of WPP, the FTSE 100 global advertising agency company.
He previously sat on the board of the BBC and has chaired a range of other organisations.
Former KPMG figure Jubb joined Crossword in February 2016 to head up its newly established cybersecurity consulting division. He has been group MD – with responsibility for consulting, sales and managed services – since 1st January 2022. In September 2023 he also became responsible for product.
He also spent nine years as an officer in HM Forces, serving in Afghanistan, NATO and elsewhere.
“I am pleased that we have been able to manage this long planned transition so smoothly,” said Sir Richard. “Tom has been preparing Stuart as his successor for several years, giving him wider responsibilities and the board is satisfied that Stuart is more than ready to take over.
“We are delighted that Tom remains fully committed to the company and is willing to take over from me as chair. I have enjoyed my eight years as chair of Crossword, seeing it develop to a high-growth, very well-run cybersecurity company on the verge of EBITDA profitability and I am very pleased to be asked to remain on the board as a non-executive director.”
Ilube added: “Stuart and I have worked closely together since 2016 and I always intended for him to be my successor. With me as chair and Stuart as CEO, our partnership will continue as we enter the next phase of growth, scaling up Crossword as a rapidly growing, profitable company.”
Jubb said: “I am honoured that Tom and Sir Richard are putting their trust in me to take on the role of CEO from August this year. Tom and I have prepared for this transition over the past few years.
“I am excited about what we are setting out to achieve for our clients, our staff and our shareholders over the next few years, as Crossword moves into its profitable growth phase later this year.”
Crossword has also announced that Ruth Anderson will step down from its board at its upcoming AGM.