News

Cybernetica announces new management structure to focus on two core businesses

25. Apr 2016

Cybernetica announces changes to its management structure, as revealed by the Supervisory Board on April 22nd, introducing a renewed two-member management board with the focus on two core fields of business distributed between the domain of information security and e-governance solutions and the domain of maritime technologies comprising of marine communication, surveillance and navigation systems.

According to Oliver Väärtnõu, CEO of Cybernetica, the driving force behind the decision was rapid business growth and refocusing on export markets over the recent years. „We have been setting our focus on foreign markets, where clearly defined fields of activity have a distinct impact on enhancing our competitiveness,“ Väärtnõu says. „The new structure reflects our vision of concentrating our competences into two main business fields. We are global players in the information security field, including e-governance solutions, and in maritime technologies, where we offer communication, surveillance and navigation systems in Europe, Asia and the Middle East,“ Väärtnõu adds.

The new management structure combines the surveillance systems department and navigation systems department under one domain in the now two-member management board, governed by the Head of the Surveillance Systems Department, Rein Haavel. „Marine technologies have a long and honorable history in Cybernetica, which in addition to our business activities is illustrated by our contributions to several international associations and global standard creation. The new management structure will allow us to enhance inter-departmental synergies and improve product development further,“ Haavel says. The current management board member Aivar Usk will continue as Head of Navigation Systems Department. „The competence and commitment of Mr Usk in developing the navigation systems department has been invaluable to us. We express utmost gratitude for his contribution during his time in the management board,“ Haavel adds.

According to Ülo Jaaksoo, the Chairman of the Supervisory Board of Cybernetica, the new management structure marks an important step in the history of the corporation. „We have always valued a strong focus on research and development, a highly-skilled team and solutions that result in a deeper impact for the society. I have had the honour to see and be a part of the evolution of the field of cybernetics over my 55 years of service to the Institute of Cybernetics of the Academy of Sciences to the present day Cybernetica corporation. The historic values coincide with the vision for the future and the bold steps we have taken to conquer global markets are well-grounded,“ Jaaksoo says. „Our two clearly defined fields of operation enhance the visibility of our core strengths and allow for more efficient product development. The noteworthy efforts from the management board have yielded excellent results, illustrated by both our sustainable growth and excellent financial indicators. The new management structure sets our sight to the horizon. To continue our success, we are adding vigorous focus to our strengths,” Jaaksoo adds.