Corero, the specialist provider of software solutions to the banking & securities and education markets, announces changes to its board.
Richard Last, aged 50, will join the board of Corero as a non-executive director with effect from 22 May 2008. He is chairman of Lynx Group Limited, chairman of Xpertise Group plc and chairman of Patsystems plc.
He is also a non-executive director of two VCT funds, British Smaller Companies VCT plc and British Smaller Technology Companies VCT 2 plc and a number of other companies. Richard brings a wealth of relevant knowledge to the Corero board due to his strong background in the software industry, experience of the financial services sector and successful board and management experience. He will sit on the Company's audit committee and become chairman of the remunerations committee. Further details of Mr Last's directorships are set out below.
Richard will replace Bernard Fairman who will resign as a non-executive director on 22 May 2008, having served as a non-executive for seven years. The directors of Corero thank Bernard for his immense contribution to the Company during this period and wish him continuing success in his many other business ventures.
Mr Last has a beneficial interest in 220,000 Corero ordinary shares, equivalent to 0.48 per cent. of the issued voting share capital of the Company and he has confirmed that there is no further information required to be disclosed under paragraph 17 of the AIM rules.