HUB Cyber Security appoints Richard Paolone and Joseph Tung as independent directors
On October 13, 2026, HUB Cyber Security Ltd. (Nasdaq: HUBC) appointed Richard Paolone and Joseph Tung as independent members of its Board of Directors, effective immediately. Both are partners in the Securities & Capital Markets group of Oakridge Law LLP and bring prior U.S.-listed public company board experience. The appointments were disclosed via Form 6-K and an accompanying press release that also noted the Company is implementing a comprehensive restructuring and exploring strategic alternatives intended to...
Key takeaways
Board appointments: HUB's Board appointed Richard Paolone and Joseph Tung as independent directors effective October 13, 2026.
Director backgrounds: Both appointees are partners at Oakridge Law LLP with experience in securities law, corporate finance, M&A and corporate governance, and each has prior service on boards of U.S.-listed companies.
Compensation and indemnification: The new directors will be compensated under the Company's shareholder-approved director compensation terms, and the Company expects to enter into customary indemnification agreements with each.
Governance context: Chairperson Renah Persofsky stated the appointments support HUB's efforts to strengthen corporate governance, improve its financial position and pursue strategic opportunities for shareholders.
Restructuring context: The press release reiterates that HUB is implementing a comprehensive restructuring to improve liquidity, simplify its organizational structure, cut operating costs and strengthen governance, while the Board continues to explore strategic alternatives.
Risk factors highlighted: Forward-looking statements disclosure flags risks including maintaining Nasdaq listing standards, adequacy of liquidity and capital resources, the outcome of legal or regulatory matters tied to a previously announced internal investigation, and limited trading liquidity of HUB securities.
Primary source
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