NCC Group appoints Guy Ellis as Chief Executive Officer

NCC Group has appointed Guy Ellis as Chief Executive Officer, succeeding Mike Maddison with immediate effect.

The cyber security company has also named Andy Beaver Interim Chief Financial Officer following Ellis's move from the finance role.

Ellis joined NCC Group in 2021 and became Chief Financial Officer in June 2023. He played a central role in the company's financial performance, commercial discipline and the divestment of Escode.

The appointment follows a leadership change at a business reshaped in recent years around cyber security. The transition comes after the completion of its transformation into what Ellis described as a pure-play cyber security business.

Chris Stone, Chair of NCC Group, said: "Over the past four and a half years, Mike and the executive team have transformed NCC into a focused and strategically positioned cyber security business. The successful disposal of Escode, the strengthening of our balance sheet and the substantial return of capital to shareholders have created a strong platform for future growth. After delivering our planned transformation, Mike is stepping down as CEO.

"Today's update demonstrates the progress that has been made, with revenue growth, significantly improved profitability and a business increasingly focused on delivering sustainable shareholder value.

"As the Group moves forward, the Board concluded, following an internal and external process, that Guy is the right person to lead NCC through this next chapter.

"Having helped shape and deliver our strategy, Guy brings a unique combination of operational, commercial and financial leadership experience, together with a deep understanding of our clients, people and markets. Since joining the Board as Chief Financial Officer in June 2023, he has played a central role in strengthening the Group's financial performance and commercial discipline, including delivering the successful divestment of Escode.

"To support a seamless transition, Andy Beaver, currently Group Financial Director, will assume the role of Interim Chief Financial Officer.

"On behalf of the Board, I would like to thank Mike for his vision and leadership. He leaves NCC as a stronger business with significant opportunities ahead."

Leadership change

Maddison leaves after overseeing a period in which NCC Group narrowed its focus and sold Escode, its software escrow arm. Stone said the board ran an internal and external process before selecting Ellis as the next Chief Executive Officer.

Beaver, who has been Group Finance Director, joined the business in 2019. He has more than 25 years of experience across listed and international businesses.

Ellis takes charge as the company seeks to deepen client relationships and increase recurring revenue. His comments also point to a continued focus on profit margins as NCC Group adjusts to shifting demand in cyber security services.

Setting out the company's priorities, he said: "With the transformation of NCC into a pure-play cyber security business now complete, our strategy is clear: deepen client relationships, expand our managed services capabilities, scale our cyber expertise and help organizations respond to an increasingly complex threat landscape.

"We are privileged to work with many of the world's leading organizations and there is a significant opportunity to build on those relationships. As AI continues to reshape the risk landscape, the need for trusted independent cyber expertise has never been greater.

"I want to thank all our colleagues for their commitment, hard work and focus throughout FY26.

"Everyone at NCC is focused on the significant opportunity ahead of us as we target organic growth, recurring revenues and drive profits through continued margin expansion, with a plan to reach mid-teen EBITDA margins."

Business focus

NCC Group was founded in 1999 and employs more than 2,000 people across Europe, North America and Asia Pacific. The company works with public and private sector clients on cyber security and business resilience.

The leadership change comes as companies face growing pressure to manage cyber risk, including threats linked to artificial intelligence and more complex digital estates. For NCC Group, the appointment puts a finance executive with operational experience in charge as the business emphasises growth, recurring revenues and margin improvement.

Beaver's interim appointment provides continuity in the finance function as Ellis moves into the top job. Stone said the board viewed the handover as a seamless transition.