Today Cinnober’s board of directors has appointed Peter K. Lenardos as Group Chief Executive Officer.
Mr. Lenardos has served as Cinnober’s Group Chief Financial Officer since June of this year, and was a Senior Financial Advisor to Cinnober since April of this year. The appointment is effective immediately. Mr. Lenardos will continue to be based in Cinnober’s Stockholm and London offices.
Prior to his employment at Cinnober, Mr. Lenardos was a Managing Director in the Royal Bank of Canada’s (RBC) London office. At RBC, he established the global market infrastructure and European diversified financials franchises, and developed strong C-suite relationships across the market infrastructure and asset management sectors.
Veronica Augustsson, who served as Group CEO since 2012, is leaving Cinnober to pursue other interests. The board thanks her for her significant contributions and wishes her well in her future endeavours.
Because the role of Group CFO is now vacant, Mr. Lenardos will also serve as Acting Group CFO in addition to Group CEO. The company is launching a search to fill the Group CFO vacancy.
The board reiterates the company’s intentions to achieve profitability in 2019 and to continue to self-fund its business activities and expansionary efforts. Cinnober takes pride in being the only independent provider of world-class trading and clearing technology to marketplaces and clearinghouses on a global basis.
Cinnober will report its Q2 results as scheduled on 23 August at 8am Stockholm time, with a conference call at 10am Stockholm time.