CYREN LTD. (NASDAQ:CYRN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On May 20, 2019, Cyren Ltd. (the “Company”) promoted Lior Kohavi to the newly created position of Chief Strategy Officer & EVP Advanced Solutions of the Company. In his new role, Mr. Kohavi will drive product strategy and new product innovation.
Mr. Kohavi, age 48, joined Cyren in June 2013 as Chief Technology Officer, a position he held until his current promotion. Mr. Kohavi brings over 25 years of experience as an engineer, product and technology executive. Mr. Kohavi holds a B.A. degree in computer science from Bar-Ilan University and an Executive MBA from Tel Aviv University.
To reflect his increased level of responsibility and leadership in the Company, in connection with his promotion Mr. Kohavi’s annual base salary was increased to NIS 1,066,441 (approximately $295,000) and his annual MBO (bonus) target was increased to 45%.
Item 7.01 Regulation FD Disclosure.
On May 23, 2019, the Company issued a press release announcing the foregoing matters. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 8.01 Other Events.
In addition, effective May 20, 2019, the Company appointed Dr. Richard Ford, age 50, as the Company’s Chief Technology Officer. Prior to joining the Company, Dr. Ford was the Chief Scientist at Forcepoint since January 2016 and also spent over 20 years as researcher of anti-malware and advanced threat detection technologies for various companies including IBM Research.
Dr. Ford has deep security knowledge and expertise with more than 30 years in the industry. At the Company, Dr. Ford will work with our technical organizations to establish the right strategic and operational technology vision.
Item 9.01 Financial Statements and Exhibits.
| 99.1 | Press Release of Cyren. Ltd. dated May 23, 2019 |
CYREN Ltd. Exhibit
EX-99.1 2 f8k052019ex99-1_cyrenltd.htm PRESS RELEASE OF CYREN. LTD. DATED MAY 23,…
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About CYREN LTD. (NASDAQ:CYRN)
CYREN Ltd. (CYREN) is engaged in developing and marketing information security solutions for protecting Web, e-mail and mobile transactions. The Company is a Security-as-a-Service provider of integrated cloud-based security technology solutions that mitigate cyber threats, malware attacks, information leaks, legal liability and productivity loss through the application of cyber intelligence. It delivers security services to a range of customers and original equipment manufacturer, and service provider distribution partners, including network and security vendors offering content security gateways, unified threat management solutions and antivirus solutions, and to service providers, such as Software-as-a-Service vendors, Web hosting providers and Internet service providers. Its technologies include CYREN GlobalView Cloud and Recurrent Pattern Detection. Its offerings include CYREN WebSecurity (CWS), CYREN EmailSecurity, Cyber Intelligence Suite and Embedded Solutions.
