REG - Cirata PLC - Appointment of Interim CFO

CirataAnnouncement

25/09/2024 07:00

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RNS Number : 5077F  Cirata PLC  25 September 2024

25 September 2024

Cirata plc

("Cirata" or the "Company")

Board Change

Appointment of Interim CFO

Cirata plc (LSE: CRTA) announces that Ijoma Maluza has resigned as CFO and
will step down from this position at the end of the current financial year on
31 December 2024, in addition to resigning as a director of the Company with
immediate effect.

 

Mr. Maluza first joined Cirata in April 2023 as a member of the turnaround
management team tasked with stabilizing the Company during a period of intense
challenge.  As a part of that team, he has played a key role in delivering
against the Company's turnaround plan.

 

Mr. Maluza will depart Cirata to take up the position of CFO within a private
company.  Alongside this change, the Company is pleased to confirm the
immediate appointment of Ricardo Moura as Interim CFO who will join Cirata on
30 September 2024.  Between this date and year-end, Mr. Moura and Mr. Maluza
will work closely together to ensure a smooth handover of responsibilities.

 

Mr. Moura is a seasoned financial professional, with over 15 years of finance
leadership experience gained within international corporate environments
spanning the UK, Europe and the US. He has a strong track record in financial
management, turnarounds, performance improvement and reporting, coupled with a
clear commercial and technical understanding of software business models and
products.

 

Prior to joining Cirata, Mr. Moura served between May 2020 and June 2024 as
CFO for the UK division of NYSE listed Optum: a software, technology and
service company.  He has also served in senior finance and transformation
roles at ASTI Electronics (subsequently acquired by ABB Ltd, listed at the
NYSE:ABBNY) and at Hexagon AB: the Nasdaq listed technology group.

 

A search to identify a permanent CFO for the Company has commenced and updates
will be provided as appropriate.

 

Stephen Kelly, Chief Executive Officer at Cirata, said:

 

"Ijoma joined the Company in a period of crisis and through tremendous hard
work he has made a significant contribution to rescuing the Company and
stabilizing the platform on which we are now rebuilding Cirata for growth. On
behalf of the entire Board, I want to take this opportunity to thank him for
those efforts and for his partnership during a period of acute Company
stress.  On a personal level, Ijoma has been a pleasure to work with during
troubled times.

 

"I also want to take the opportunity to welcome Ricardo to Cirata who will
work with us to ensure the growth of our Company continues as planned.  He
has a clear understanding of the software space we inhabit and the opportunity
ahead of us."

 

Ijoma Maluza, Chief Financial Officer at Cirata, said:

 

"Since the new management team were appointed in March 2023, we have faced
some significant challenges. I am proud of the work we have done together to
help shape a new future for Cirata and all its stakeholders, providing a
platform for growth and sustainability. I want to take this opportunity to
wish Stephen, the Board and colleagues my sincere best wishes for the next
phase of the journey".

 

This announcement contains inside information under the UK Market Abuse
Regulation. The person responsible for arranging the release of this
announcement on behalf of Cirata plc is Larry Webster, Company Secretary.

 

 

For further information, please contact:

 

 Cirata                                  +1 (925) 380 1728
 Stephen Kelly, Chief Executive Officer
 Ijoma Maluza, Chief Financial Officer
 Daniel Hayes, Investor Relations

 FTI Consulting                          +44 (0)20 3727 1137
 Matt Dixon / Kwaku Aning / Usama Ali

 Stifel (Nomad and Joint Broker)         +44 (0)20 7710 7600
 Fred Walsh / Ben Good / Sarah Wong

 Panmure Liberum (Joint Broker)          +44 (0)20 3100 2000
 Max Jones / John More

 

 

About Cirata

Cirata, accelerates data-driven revenue growth by automating data transfer and
integration to modern cloud analytics and AI platforms without downtime or
disruption. With Cirata, data leaders can leverage the power of AI and
analytics across their entire enterprise data estate to freely choose
analytics technologies, avoid vendor, platform, or cloud lock-in while making
AI and analytics faster, cheaper, and more flexible. Cirata's portfolio of
products and technology solutions make strategic adoption of modern data
analytics efficient and automated. For more information about Cirata
visit www.cirata.com (http://www.cirata.com)

 

 

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