Sophos CFO quits after nine years at cybersecurity firm
London-listed cybersecurity firm, Sophos Group, has announced that Nick Bray, its Chief Financial Officer, is leaving the company.
Bray is due to take up a new position at a private equity-owned business operating in a different segment of the technology market to Sophos, a FTSE 250 company.
Sophos said that it has now begun a process to appoint a successor to Bray and a further announcement will be made in due course.
To support an orderly transition and succession process, Bray will continue with Sophos until mid-November 2019, after the company's half year results.
"Nick has been our CFO since 2010”, said Peter Gyenes, Chairman. “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."
Bray said he had “thoroughly enjoyed” his 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."
The company also reported a solid three percent rise in revenue in its first quarter earnings statement on Friday.
Sophos' shares were trading 5% higher at £4.33 midmorning.