Corero Network Share News (CNS)

(Sharecast News) - Corero Network Security announced the appointment of Lionel Chmilewsky as an executive director and chief executive officer-designate on Monday, with effect from 1 May.
The AIM-traded firm said it intended for Chmilewsky to be appointed CEO on 1 July, at which point Ashley Stephenson - its current chief executive - would be appointed chief technology officer, remaining on the company's Board.

It said Chmilewsky had more than 30 years of experience in the networking and telecommunications industries, most recently as CEO of Cambridge Broadband Networks (CBNL) - a wireless access solutions company.

Before that, he was CEO of Comverse IP Communications, which provides software and services for mobile, fixed-line and internet protocol (IP) communications operators.

Prior to joining Comverse, Chmilewsky held a number of senior sales roles, including executive vice-president of worldwide sales for Proxim Wireless Corporation - a US-based, Nasdaq-listed wireless systems manufacturer - and held sales management roles in Europe and the United States for technology providers, including Alcatel.

In addition, Corero reported the successful conclusion of the executive search for a group finance director.

It said Neil Pritchard - previously group financial director at technology business CML Microsystems - would join the company on 1 May.

Before CML, Protchard held senior financial positions with a number of quoted companies including Continental AG, Delta plc and Synthomer.

Corero had previously announced that Andrew Miller had resigned as chief financial officer, but would remain a director of the company, taking up the role of non-executive director.

"We are delighted to welcome Lionel to Corero as we seek to broaden our executive team to capitalise on the significant opportunity for our market leading SmartWall technology and to accelerate the company's growth," said chairman Jens Montanana.

"We sought to complement our existing skill set with an executive with a successful track record of leading technology companies underpinned by extensive multichannel sales experience.

"We believe Lionel will be an excellent addition to Corero's executive management team and the Board as we enter the next phase of the company's evolution."

Montanana added that Pritchard was an "experienced finance director", having previously worked for London-listed companies, who would also complement Corero's existing senior team.

"I would also like to extend my gratitude on behalf of the board to Ashley for having led the organisation over the past seven years, helping to pioneer and position our cutting edge technology in the marketplace.

"We will continue to benefit from his extensive experience and technology leadership in his new role as chief technology officer."

At 1333 BST, shares in Corero Network Security were up 3.61% at 4.3p.