Shelly Group SE, a provider of IoT and smart building solutions, is restructuring its finance organization to support international expansion and enhance financial management. The company announced that Iliyana Krushkova will become Chief Financial Officer effective January 12, 2026, replacing Svetozar Illiev, who is stepping down after 16 years for personal reasons.
Krushkova will oversee Finance, Controlling, and Treasury, bringing over 15 years of experience in financial management, strategic corporate steering, and M&A projects from roles at international IT firms and advisory positions at companies like ScaleFocus and KPMG. Her appointment is part of Shelly Group's strategy to professionalize global finance structures, with a focus on cash flow stability, efficient working capital management, and scalable financial processes. The company plans to propose her election to the Board of Directors at the 2026 Annual General Meeting.
Wolfgang Kirsch, Co-CEO of Shelly Group, expressed gratitude for Illiev's contributions, noting his role in establishing a solid financial foundation for the company's growth. Kirsch emphasized that Krushkova's international expertise and execution skills align with Shelly Group's ambition to become a globally successful provider. Krushkova stated she has followed Shelly Group's development and looks forward to shaping its next growth phase from a financial perspective.
This leadership change is significant as it positions Shelly Group to navigate the competitive IoT and smart building market, which relies on robust financial steering for scaling operations across more than 100 countries. The company's focus on asset-light production and cloud applications requires advanced financial management to sustain growth and innovation. For investors and industry observers, the transition signals Shelly Group's commitment to strengthening its financial governance as it expands its global footprint, potentially influencing market confidence and operational efficiency in the smart technology sector. More details can be found on the company's investor relations page at https://www.crossalliance.de.
