Shearwater Group plc (LSE:SWG), a provider of cybersecurity advisory and managed security services, has confirmed that Non-Executive Director Giles Willits has stepped down from the board effective 1 April 2026 after serving the company for more than ten years. The change follows the earlier appointment of Robin Southwell as chair, a transition the board says has been smooth and has strengthened leadership continuity at the company.
The group has now started an advanced search process to appoint a new Non-Executive Director, reflecting its ongoing emphasis on maintaining strong governance and board oversight. At the same time, management said business performance continues to track market expectations, with new contract opportunities advancing through the pipeline. The company noted that it is entering the second half of FY26 with growing confidence in its strategy and its ability to meet its stated goals, providing reassurance for investors and stakeholders.
Shearwater’s outlook is currently weighed down by weaker financial quality, including ongoing operating losses and declining free cash flow despite strong revenue growth. These factors are partially balanced by favourable short-term technical signals, with the share price trading above the 20-day and 50-day moving averages and a positive MACD indicator. Valuation metrics remain limited by a negative P/E ratio due to losses and the absence of a reported dividend yield.
More about Shearwater
Shearwater Group plc is a UK-based provider of cybersecurity, managed security, and professional advisory services operating globally. Its portfolio includes identity and access management, data protection, cybersecurity technologies, managed security services, and governance, risk and compliance solutions. The company is pursuing a buy-and-build strategy to expand its capabilities, and its shares trade on AIM under the ticker SWG.
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