BullGuard CEO Nedko Ivanov announced as winner of a Finance Monthly 2014 CEO Award
London, 11th September 2014: Nedko Ivanov, CEO, BullGuard has been awarded a much coveted winner status in Finance Monthly’s annual awards for 2014.
The award is a testament and accolade to Ivanov’s strategy which has seen BullGuard become a leading player in the consumer internet security space with an expanding customer base and an industry-leading renewal rate of more than 70 percent.
Ivanov joined the company in September 2011 and under his tenure during 2012 BullGuard reported Operating profit for the first time of £2.4m, compared to a £2.9m loss in the preceding year, on revenues of £12.1m, giving a 20% margin.
His impressive track record in the technology sector includes roles at Teleplan, Cambridge Mechatronics and Nokia/ Vertu.
He refocused the business and reinvigorated the senior management team bringing in Mike Hodges as COO, Cam Le as CMO, George McDevitt as CFO and Steve Hicks as a Head of Global Sales, all of whom have extensive experience in senior management roles at a wide range of major technology companies.
Ivanov has overseen an expanding award-winning product portfolio that incorporates industry-leading technologies to address the most current consumer needs and to provide the best protection possible.
This included the acquisition of NovaShield and its advanced patented anti-malware technology in April 2013. The deal gives BullGuard exclusive rights to full use and sub-licensing of NovaShield’s advanced anti-malware technology. NovaShield’s behaviour-based technology provides customers with the most comprehensive protection available against both known malware and emerging or mutating strains of viruses.
BullGuard also offers a unique reseller programme, which has also significantly helped drive sales. The programme features a revenue share model in which partners receive a share of the renewal revenue their customers generate, for the life of that product. This delivers a long-term advantage for partners and also ensures commitment.
The company is now well placed to further develop its core markets in the UK, Ireland, Scandinavia, Western Europe, the US and Australia, making full use of its database of 12 million contactable consumers. Offline sales also continue to develop, with growing coverage in the US and Canada. BullGuard so far this year has demonstrated an impressive 47% growth in some parts of the business.
“BullGuard is now a sustainable and highly profitable business, with growing revenue and a strong cash balance. With patented, market leading behavioural detection technology, more than 650,000 paying customers, a global presence and an experienced and committed management team, we are very well placed for further growth,” said Ivanov.
Every year, Finance Monthly magazine recognizes individuals who have shown the strategic foresight and leadership to identify opportunities and place the companies they guide at the forefront of their industry.
The CEO Awards is compiled by researchers who draw on the views of thousands of stakeholders including investors, analysts, executives, employees, and media professionals worldwide. The results are used to inform and identify best management practices and success factors, to ultimately recognize achievement in business.
The Finance Monthly CEO 2014 awards can be viewed at: http://headley.co.uk/headturner/FMCEO2014-ENDS-
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About BullGuard:
Launched in 2002, BullGuard is one of the fastest growing internet and mobile security brands. Today, its product portfolio also includes award-winning antivirus, premium 24/7 protection suite, web-based identity and social media protection that works across all devices, as well as PC and mobile backup software solutions. BullGuard’s philosophy has always remained the same – to combine technical excellence with a genuine understanding of consumer needs, creating simple, easy-to-use products that deliver complete protection, and to enable customers to control and manage their digital footprint.
For two consecutive years (January 2012 and 2013), BullGuard Internet Security has won a coveted “Best Buy” award from Which?.