LONDON, UK: Crossword Cybersecurity Plc (AIM:CCS), the cybersecurity solutions company focused on cyber strategy and risk, announced that with effect from 1 August 2024, Tom Ilube, Crossword’s current CEO, will step up to non – executive Chair and Stuart Jubb, who is currently Group Managing Director, will take on the CEO role.
The current Chair, Sir Richard Dearlove will continue to serve on the Board as non-executive Director. These long planned changes are intended to best position Crossword for the next few years of growth as Crossword seeks to achieve EBITDA profitability in the second half of the year.
Tom Ilube founded Crossword in 2014 and has led the firm as CEO for the past ten years. Tom remains firmly committed to Crossword and will focus his attention on the major strategic steps that will build long term value for shareholders. Tom is an experienced corporate leader who currently serves as Chair of the Rugby Football Union (RFU) as well as serving 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.
In preparation for this transition to CEO, Stuart was appointed to the Board at the beginning of April this year. Stuart joined Crossword in February 2016 to head up Crossword’s newly established cybersecurity consulting division. From 1 January 2022, Stuart has been Group Managing Director of Crossword, with responsibility for Consulting, Sales and Managed Services, and in September 2023 also became responsible for Product.
Prior to joining Crossword, Stuart worked at KPMG where he was Associate Director, Defence & Security. Prior to that, he was Chief Operating Officer of a global consulting team of over 200 in KPMG Advisory. Stuart spent nine years as an officer in HM Forces, after commissioning from the Royal Military Academy Sandhurst, serving in Afghanistan, NATO and elsewhere.
Sir Richard Dearlove, Chair of Crossword, said: “I am pleased that we have been able to manage this long planned transition so smoothly. 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 8 years as Chair of Crossword, seeing it develop to a high growth, very well run cyber security 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.”
Commenting on the succession plans, Tom Ilube said: “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.”
Stuart Jubb, incoming CEO, 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.”
In addition to the above changes, Crossword also announces that Ruth Anderson will step down from the Board at the AGM on 23 May 2024, having served six very successful years on the Board since 2018.
Sir Richard Dearlove, Chairman of Crossword Cybersecurity Plc, said: “On behalf of the Board, I would like to thank Ruth for the contribution she has made to Crossword during her time on the Board and we wish her the best for the future.”
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