Cinnober confirms CEO departure

Veronica Augustsson has worked at Cinnober for 16 years, but has been replaced by recently appointed CFO Peter Lenardos.

By Hayley McDowell

Exchange and post-trade technology provider Cinnober has lost its chief executive officer, who has worked with the company for the past 16 years.  

Veronica Augustsson has served as Cinnober’s CEO since 2012, but a company statement confirmed that she has left to “pursue other interests and opportunities”.

Augustsson first joined Cinnober in 2002 as a developer and architect, before moving into technical sales support and business development. She was appointed head of sales shortly before serving as chief executive of the company.

Peter Lenardos, who was recently appointed CFO at Cinnober, has been chosen to lead the company as CEO effective immediately following Augustsson’s departure.

Lenardos joined Cinnober from Royal Bank of Canada as a senior financial advisor in April this year but was quickly promoted to financial chief in June. He was formerly a managing director within Royal Bank of Canada’s London office, having established several of the firm’s global market infrastructure and European franchises.

Cinnober explained that as the role of CFO is currently vacant, Lenardos will continue to serve as acting group CFO in addition to group CEO, as the company seeks a permanent replacement.

“The board reiterates the company’s intentions to achieve profitability in 2019 and to continue to self-fund its business activities and expansionary efforts,” Cinnober said. “Cinnober takes pride in being the only independent provider of world-class trading and clearing technology to marketplaces and clearinghouses on a global basis.”