Canberra-based cyber technology company Penten has announced a significant leadership restructure of its business.
The company has appointed Greg Barsby as its new chief executive officer, replacing Matthew Wilson who will move to the position of executive chair of the company in place of Dr Marcus Thompson. Dr Thompson will continue to serve as a board director.
The company says the restructure – which will be effective by the end of January 2024 – comes as Penten’s products are increasingly being used by Australian government customers including in defence, intelligence and security agencies. The company’s annual revenue has more than doubled over the past three years.
A former army officer, Mr Barsby previously held the position of managing director of the Australian subsidiary of UK company QinetiQ for nearly a decade.
Dr Thompson – also a former senior army officer – said he was delighted to welcome Mr Barsby to lead Penten’s team and day-to-day operations.
“He is a highly regarded senior executive with lengthy experience delivering services and technology solutions for military and government customers,” he said. “The board looks forward to supporting Greg to realise Penten’s full potential.”
Mr Wilson said Penten was strong, profitable and well positioned to support the AUKUS partnership with its proprietary cyber and security technologies.
“Greg’s international defence industry experience will enable us to scale up across multiple jurisdictions while we continue developing our IP-led cyber technology portfolio in Australia and further commercialise our applied AI and technical services,” he said.
“The board also pays tribute to Dr Marcus Thompson for his invaluable leadership and personal commitment to Penten, which has been pivotal to our recent success which includes rapid increase in the adoption of Penten’s AltoCrypt products and data breach detection solutions.
“We look forward to Marcus’ continued guidance and support through his ongoing role on the Penten board.”
An Australian-owned cyber technology business, Penten was founded in Canberra in 2014. The company was recognised as the Telstra Australian Business of the Year in 2018 and has also won Australian Defence Industry Cyber Business of the Year in 2019, 2020 and 2021, and the Emerging Exporter of the Year category at the 2021 Australian Export Awards.