Crossword Cybersecurity PLC on Tuesday said its chief financial officer will step down at the end of June, while it has also named a successor.

The London-based cybersecurity solutions provider said Mary Dowd will step down after six years as CFO, saying she led the company’s admission to AIM in London in December 2018.

Crossword Cybersecurity said Dowd is looking to pursue executive opportunities outside the company, but has agreed to stay until June 30 following the publication of its annual results.

Rose Clark has been appointed as Dowd’s successor, initially on a non-board position. Crossword Cybersecurity said Clark is an experienced CFO in businesses with annual turnovers ranging from £15 million to £500 million. This includes being group finance director at Jelf Group PLC, which acquired 20 businesses over two years, growing revenue to £75 million from £15 million, and as interim global CFO of Eleco PLC.

Crossword Cybersecurity said Clark will join the board following a ‘satisfactory’ handover period with Dowd, and a further announcement will be made at that time.

‘I would like to thank Mary for her huge contribution to Crossword over the last six years. During that time she has led our admission to AIM, helped the company navigate the financial challenges of the pandemic, executed multiple fundraising rounds and managed three successful acquisitions. Mary has laid the foundation for Crossword’s path to profitability this year and our future rapid growth,’ said Crossword Cybersecurity Chief Executive Officer Tom Ilube.

‘Rose is a highly regarded CFO and leader. Beyond her financial credentials, her experience in rapidly scaling businesses will be especially valuable as Crossword moves towards profitability and enters its scale up stage. We look forward to welcoming her to Crossword next month.’

Shares in Crossword Cybersecurity were untraded and quoted at 5.00 pence each in London on Tuesday morning.

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