Sophos Group PLC (LON:SOPH) today announced that Nick Bray, Chief Financial Officer, has informed the Board of his decision to take up a new position at a private equity-owned business operating in a different segment of the technology market to Sophos.
As a result, the Board has begun a process to appoint a successor to Mr. Bray and a further announcement will be made in due course. To support an orderly transition and succession process, Mr. Bray will continue with Sophos until mid-November 2019, after the Company’s half year results.
Peter Gyenes, Chairman, said: “Nick has been our CFO since 2010. He has been a valued member of the management team and the board, and has made significant contributions to the growth and success of Sophos during his tenure. On behalf of the board, I would like to thank him for all he has done for Sophos, and wish him every success in the future.”
Kris Hagerman, Chief Executive Officer, said: “I would like to echo Peter’s sentiments and express my personal thanks. Nick has played a critical role in guiding the company’s growth and expansion to become a clear leader in the exciting next-generation cybersecurity market, and we are immensely grateful for his many contributions.”
Nick Bray, Chief Financial Officer, said: “I have been at Sophos for 9 years, and I have thoroughly enjoyed my experience with the company. I am extremely proud of what we have accomplished as a team. While this kind of decision is never easy, I leave the company both financially and operationally strong, and with a bright future ahead of it. I am very confident that Sophos will continue to grow and succeed, and deliver value for all its key constituents: shareholders, customers, channel partners, and Sophos team members.”
Mr. Bray intends to stand for re-election at Sophos’ Annual General Meeting to be held on 25 September 2019 (or any adjournment thereof) and, if re-elected, it is currently expected that he would continue to serve on the Board until his employment ends.
In accordance with section 430(2B) of the Companies Act 2006, the arrangements that will apply in respect of Mr. Bray’s remuneration can be found at www.sophos.com/investors/corporate-governance/remuneration.