CybAero Announces Global Search for New CEO and Appointment of Interim CEO

CybAero announces today that it has begun a global search for a new chief executive and the appointment of Mikael Smith as interim CEO effective September 1st 2017.

The Board of Directors is pleased to announce that Mr. Mikael Smith, CybAero’s Chief Financial Officer, will act as the interim CEO until a new Chief Executive Officer is appointed. Rolf Schytt has taken on a new role concentrating on CybAero Services and legacy operations still under his management. The Board would like to thank Rolf Schytt for his dedication and commitment to CybAero as CEO and look forward to him successfully expanding CybAero services as well as continue working with legacy operations at CybAero. This is a decision made in consensus between the Board of Directors and Mr. Schytt.

Mr. Smith has been integral part of the management team and began taking on additional responsibilities earlier in the year including successfully identifying and completing the latest financing. Michael Smith joined the Company in September 2016. Most recently he comes from Sims Metal Management’s Nordic region, where he was Country CFO, he was engaged in Sims Metal Management for more than 13 years. Michael holds an MBA from the M Group, a Master of Business Administration from Linköping University and a degree in strategic HR management from the University of Linköping.

The Board of Directors is also pleased to announce that Henrik Lewander will advise and support the Board in the search for a new CEO and additional board directors. Mr. Lewander has decades of experience with Swedish technology companies and has been an investor and advocate of CybAero since 2008.

Michael Auerbach, Chairman of the Board

Telephone: 013-465 29 00


This information is information that CybAero AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:45 CET on August 23 2017.

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About CybAero
CybAero develops and manufactures Remotely Piloted Aircraft Systems (RPAS) for safer and more effective aerial operations in various environments, including those hazardous in nature. The company has made a great international impact with its APID One helicopter, which can be adapted for both military and civilian applications such as coastal and border surveillance, search and rescue missions, and mapping. CybAero’s head office is located in the Mjärdevi Science Park in Linköping, Sweden. The company has around 50 employees and has been listed on the Nasdaq First North since 2007. FNCA Sweden AB is the company's certified adviser.


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