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London, 14th of May 2008. Securstore, the online automated and managed data backup and recovery specialists, today announced it has strengthened its shareholder base and management team with the appointment of Orn Gunnarsson as CEO and Bjarni Armannsson as non-Executive Chairman. Gunnarsson joins SecurStore from Saga Capital Investment Bank where he was managing director, prior to that he was Head of Corporate Finance at Glitnir Bank. Armannsson has also led a distinguished career in the financial services industry, he was previously CEO of several companies including Glitnir financial group, Kaupthing Bank and FBA the Icelandic Investment Bank. Both have acquired a 25% stake in SecurStore and will be based at the company’s Icelandic operation and will help spearhead the company’s ambitious growth plan.
Alexander Eiriksson, present CEO of SecurStore, will become COO. He with his brother, Eirikur Thor Eiriksson, CFO of SecurStore have led the company since launch in 2004 and will continue to be key strategic members of the management team during the next stage of its development.
Based at SecurStore’s UK HQ Alexander Eiriksson, COO said, “Our strategy to focus on online backup services using the Internet has proved very successful. The company has reached a stepping stone in profitable growth and the UK has massive expansion opportunities for us which demand a clear focus. Orn and Bjarni both bring a wealth of experience to the company along with support for the vision of the company and fresh thinking.”
Orn Gunnarsson, CEO of SecurStore commented, “SecurStore has built up a successful infrastructure along with a clear vision for future opportunities within its UK and Icelandic operations. I’m looking forward to growing the company fast but granularly in coming years with the entrepreneurial brothers and the experienced personnel of SecurStore.”
Bjarni Armannsson, investor & non-Executive Chairman said, “I find SecurStore to be an exciting investment. It combines power and clear entrepreneurial vision by understanding the fact that each stage in the development of a company requires its own setup. In my mind there is no doubt that the founders of the company, with their personnel, have done an outstanding job in building the foundation of the company with such a strong infrastructure, making the company ready to
take on considerable growth in the near future.”
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