Intrusion Announces Departure of Chief Financial Officer

Rhea-AI Summary

Intrusion Inc. (NASDAQ:INTZ) announced the resignation of Chief Financial Officer, Franklin Byrd, effective May 30, 2022. The decision was not due to disagreements on strategy or financial irregularities. Byrd will assist the company during the transition period. CEO Tony Scott praised Byrd for his contributions in enhancing management and financial discipline. Intrusion specializes in cybersecurity solutions, notably offering Intrusion Shield, which employs a Zero Trust approach to protect networks from cyber threats, including Zero-Day and ransomware attacks.

Positive

• No disagreements regarding company strategy with departing CFO.
• CFO's contributions recognized for enhancing management and financial discipline.
• Continued focus on cybersecurity solutions with the commercial product Intrusion Shield gaining traction.

Negative

• None.

PLANO, TX / ACCESSWIRE / May 17, 2022 / Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions including zero-days, announced today that Franklin Byrd will be resigning his role as Chief Financial Officer ("CFO"), effective May 30, 2022.

Mr. Byrd's departure is not based on any disagreement with the Company's strategy, or any irregularities in the Company's accounting principles or financial statement disclosures. Intrusion will initiate a search for Mr. Byrd's successor, and he has agreed to support the Company through this transition.

"I have worked closely with Franklin since my arrival in November of 2021, and I have a deep appreciation for his contributions to further strengthen the management and financial discipline at Intrusion," said Tony Scott, CEO of Intrusion. "During his time with Intrusion, Franklin has been a critical part of the Company's success with his skillful oversight of our finance, HR, investor relations, and legal functions. On behalf of our entire team, I would like to thank Franklin for his dedication to Intrusion and wish him well in his future endeavors."

About Intrusion Inc.
Intrusion, Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to their exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working exclusively with government entities, the company released its first commercial product in 2021. Intrusion Shield is designed to allow businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known malicious or unknown connections from both entering or exiting a network to help protect against Zero-Day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.

Cautionary Statement Regarding Forward-Looking Information
This release may contain certain forward-looking statements, including, without limitations, statements about the Company's operations, strategies, or results of operations as well as any other statements which reflect management's expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including, without limitation, the risks that our strategies and outcomes will not meet our expectations or do not meet with widespread market acceptance. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, risks that we have detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."

IR Contact
Alpha IR Group
Mike Cummings or Sam Cohen
INTZ@alpha-ir.com

SOURCE: Intrusion, Inc.

View source version on accesswire.com:
https://www.accesswire.com/701820/Intrusion-Announces-Departure-of-Chief-Financial-Officer

FAQ

What prompted the resignation of Franklin Byrd from Intrusion Inc.?

Franklin Byrd's resignation was not due to any disagreements with the company's strategy or financial irregularities.

When is Franklin Byrd's resignation effective?

Franklin Byrd's resignation as CFO is effective May 30, 2022.

What is Intrusion Shield?

Intrusion Shield is a cybersecurity product designed to protect networks from Zero-Day and ransomware attacks using a Zero Trust security approach.

Who will succeed Franklin Byrd as CFO?

Intrusion Inc. has initiated a search for Franklin Byrd's successor.

What does Intrusion Inc. specialize in?

Intrusion Inc. specializes in cybersecurity solutions, providing access to a threat intelligence database and commercial products to enhance security.