IoT communication and smart metering solutions provider CyanConnode has made two major changes to its leadership team.
Former non-executive director Bj枚rn Lindblom will take on the role of non-executive chairman, whilst executive chairman John Cronin will step up to group CEO.
The news comes shortly after the listed Cambridge-based firm was awarded a 拢70m contract to deploy around 750,000 smart meters.听
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Lindblom only joined the board in January 2024 and will continue as chair of the remuneration committee and as a member of the audit and nominations committees.听听
His prior roles include leading Connode AB as CEO until its acquisition by Cyan plc in 2016, which led to the formation of CyanConnode.
Over the past 20 years, he has founded and scaled several IoT companies and was a pioneer of radio-based smart metering in the Nordic markets.
鈥淭he business is entering a transformational phase and anticipates substantial growth in the coming years,鈥� he said.
鈥淣ow is the right time to strengthen governance and enhance board independence.鈥�
Cronin, meanwhile, is still managing director of Cronin 老九品茶 Solutions, having held the position for nearly 15 years.
He also founded and served as the CEO of Azure Solutions Telecoms from 2002-2007.听
Cronin added: 鈥淲e are delighted that Bj枚rn is taking up his new role as independent non-executive chairman.听
鈥淗is deep industry experience and long-standing knowledge of the company will be invaluable as we move forward.听
鈥淭his decision also enables me to focus fully on driving the operational development of the business.鈥�
The firm currently has a share price of 7.93p and a market cap of 拢28.46m.