NARF Industries PLC on Monday said it has promoted Independent Non-Executive Director John Herring as executive chair, effective immediately.

The US-focused cybersecurity provider said Herring’s appointment sees Robert Mitchell stepping down as chair.

It said Herring brings ‘multi-decade executive and board experience in building high growth tech companies’, offering ‘strategic and practical operational experience specific to NARF’s mission informed by a career that spans military service and work in the national security sector’.

Herring previously served as chief executive of US Central Intelligence Agency investment arm In-Q-Tel’s iMove Inc.

NARF also cited corporate finance experience includes venture, private equity and public market financings, alongside buy and sell-side mergers and acquisitions transactions. Herring is co-founder of private equity firm Corstone Capital, where he has served as CEO and managing director since its inception in 1991.

‘We are experiencing record growth in our core national security [research and development] and US government business. We are pleased to have someone with John’s experience work actively with me and the team during this exciting time advancing NARF’s corporate development,’ said Founder & CEO Steve Bassi.

Herring added: ‘My role is to accelerate the team’s vision by bringing a deep network of relationships to fast-track the company’s corporate development. This includes sourcing board and team members that bring rapid growth public company governance experience and domain informed strategies to our commercialization initiatives. I look forward to working closely with Steve and his team as we build on our growth to date.’

Shares in NARF were up 3.7% to 0.93 pence each in London on Monday afternoon.

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