HUB Cyber Security adds banking executive to board

HUB Cyber Security Ltd. (NASDAQ: HUBC) appointed Vineet Malhotra to its board of directors, according to a company statement. Malhotra previously served as managing director and global head of Simplii Financial, the digital banking unit of Canadian Imperial Bank of Commerce.

The appointment expands HUB's board to six members, including independent directors Renah Persofsky as chairperson, Malhotra, Shlomo Bibas, and Ilan Flato. Major General Uzi Moscovici and CEO Noah Hershcoviz serve as the remaining board members.

HUB published a proxy statement seeking shareholder approval for a reverse stock split. The company stated such action would only be considered to protect shareholders, attract a broader investor base, or maintain Nasdaq listing compliance requirements.

The Tel Aviv-based company recently received shareholder approval to increase its authorized share capital. HUB provides confidential computing and data fabric technologies to organizations including Fortune 100 companies and global banks.

"We are strengthening HUB's governance framework to match the scale, responsibility, and regulatory complexity of the systems we are building," CEO Noah Hershcoviz said in the statement.

Malhotra brings over 20 years of experience in regulated banking and payment platforms. His appointment adds financial infrastructure expertise to the board's oversight capabilities.

You May Also Be Interested In