Cybercube appoints new chief executive following £130m financing round

Risk modelling and analytics firm Cybercube has appointed Chris Methven as its new chief executive, succeeding outgoing chief executive Pascal Millaire.

Cybercube said the appointment marked the next phase in the company’s development and comes shortly after the completion of a $180m (£131m) financing round led by Spectrum Equity.

The firm also said that Methven, who joined the business in 2020 as chief growth officer, was appointed due to his wide respect across the market, deep knowledge of the business and understanding of its products, clients and long-term ambitions.

According to Millaire, Methven is a “proven leader” who “deeply understands” the business and the “criticality of the analytics” that the firm provides.

“I have full confidence that under Methven’s leadership, Cybercube will expand its market leadership position as the pre-eminent provider of cyber risk analytics to the global insurance industry,” he added.

The incoming chief executive said: “I’m honoured to be taking on the role of chief executive at such an exciting time for the business. I have spent the last six years working directly with our clients and the wider market.

“I’m very much looking forward to leading the next phase of the company’s growth and development, building on the strong foundations already in place.”

New role

Millaire, who was appointed chief executive in 2018, will continue to provide council to the firm from the role of senior advisor.

Scott Stephenson, chair of Cybercube’s board of directors, thanked Millaire for his service, adding: “He has guided the business to a position of real strength, providing the platform for future growth.

”We are pleased that Millaire will continue to support the company in a senior advisory capacity.”