IAR Systems changes CEO

The Board of I.A.R. Systems Group has decided to dismiss CEO Stefan Skarin and has appointed Richard Lind as acting CEO. Richard has been a board member of IAR since 2019 and is a former CTO of the Internet of Things (IoT) at Microsoft.

The Board thanks Stefan Skarin for his many years of work in building IAR into an internationally leading supplier of tools for software development in embedded systems. During Stefan's time, the company has grown to over SEK 370 million, just over 200 employees and recurring revenue from 150,000 developers worldwide.

The Board will begin recruiting a new CEO and is looking for a leader with experience in international proactive sales, to develop long-term relationships with demanding customers and to develop business models for software.
“For a period, IAR Systems will have a temporary but very knowledgeable CEO in Richard Lind, which means that the board can take the time to find the right leader for the next phase in IAR's development. To take that step, IAR needs new leadership, an updated sales strategy and an improved sales organization”, says Nicolas Hassbjer, Chairman of IAR.

“The product strategy is unchanged and the Board intends to invest in both IAR's tools for software development and our new SecureThingz offering. We will initially focus on organic growth in software development tools and in taking the leading position in security and copy protection of electronics. IAR's established position and the employees' deep technical know-how in software development is a unique platform for taking part in the growth of connected products. Security is judged to have great potential and increasing growth over the next 10 years, we will make SMS - Security Made Simple”, says Richard Lind, acting CEO of IAR.

For more information on Richard Lind please refer to:

This information is published in accordance with Chapter 4, Section 9 of the Swedish Financial Instruments Trading Act (SFS 1991:980). This information was submitted for publication on October 18 2021, at 10:20 CET.

IAR System contacts
Nicolas Hassbjer, Chairman of the Board, IAR Systems Group AB
Email: nicolas@tequity.se, tel. +46709-17 29 02

About IAR Systems

IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. Since 2018, Secure Thingz, a provider of advanced security solutions for embedded systems in the IoT, is part of IAR Systems. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com.

IAR System contacts
Nicolas Hassbjer, Chairman of the Board, IAR Systems Group AB
Email: nicolas@tequity.se, tel. +46709-17 29 02

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