DGAP-News

Board change at cyan: Frank von Seth succeeds CEO Peter Arnoth

DGAP-News: cyan AG / Key word(s): Personnel Board change at cyan: Frank von Seth succeeds CEO Peter Arnoth 15.09.2020 / 08:35 The issuer is solely responsible for the content of this announcement. Board change at cyan: Frank von Seth succeeds CEO Peter Arnoth

- Peter Arnoth remains associated with cyan AG in an advisory capacity

- Contracts of Markus Cserna (CTO) and Michael Sieghart (CFO) extended until the end of 2022

- Alexander Schütz joins the Supervisory Board

Munich, September 15, 2020 - The Supervisory Board of cyan AG today appointed Frank von Seth (50) as the company's new Chief Executive Officer (CEO) with effect from 1 January 2021 for a period of 3 years. Peter Arnoth, CEO of cyan for many years, will not extend his management contract, which expires on 31 December 2020, at his own request. However, Peter Arnoth will remain associated with the company as a consultant for the long-term. The management contracts of the two members Markus Cserna (CTO) and Michael Sieghart (CFO) were also extended until the end of 2022.

Peter Arnoth, CEO of cyan AG: "Since I joined cyan in 2011, we have achieved a lot. We have signed contracts with T-Mobile, Orange and AON, among others, and have successfully gone public. It is now time to pass the baton to my successor. With Frank von Seth, the Supervisory Board has gained an absolute expert. I have known Frank for many years, and I am absolutely convinced that he will take cyan to the next level with his international sales and management experience.

Over the past ten years, Frank von Seth has held various management positions at the world's leading risk adviser AON. Most recently, he was Chief Commercial Officer for Austria and Switzerland. There he was able to conclude numerous large contracts with multinational clients. Prior to that, Frank von Seth worked for QBE Insurance and Euler Hermes Kreditversicherungs AG, including about eight years in Japan and Australia.

Stefan Schütze, Chairman of the Supervisory Board of cyan AG: "We are pleased to welcome such a successful international sales professional on board and would like to thank Peter Arnoth for his great commitment in the past years. Frank von Seth has been extremely successful in selling very complex product packages to large corporations in recent years and will ideally strengthen the board of cyan AG with his know-how and network".