Shelly Group Appoints New CFO to Drive International Expansion and Financial Strategy

Shelly Group SE, a provider of IoT and smart building solutions, is aligning its finance organization with its next growth phase, focusing on international scaling, enhanced financial steering capabilities, and active cash flow management. Iliyana Krushkova will assume the role of Chief Financial Officer effective January 12, 2026, succeeding Svetozar Illiev, who is stepping down after 16 years with the company. Illiev will continue to provide advisory support during the transition period.

Krushkova will oversee Finance, Controlling, and Treasury, bringing over 15 years of experience in financial management, strategic corporate steering, and M&A and transformation projects from roles at international IT and technology companies and advisory firms including ScaleFocus and KPMG. Her background includes scaling finance organizations, implementing ERP and reporting structures, ensuring IFRS-compliant financial management, and actively managing liquidity and working capital. At Shelly Group, her focus will be on professionalizing global finance and steering structures, with emphasis on cash flow stability, efficient working capital management, and scalable financial processes. The company intends 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 he helped create a solid financial foundation for the company's growth. Kirsch stated that Krushkova's appointment underscores the company's ambition to develop into a globally successful provider based on a strong financial foundation, citing her international experience, perspective on scalable structures, and execution ability. Krushkova commented that she has followed Shelly Group's development and is impressed by its technical expertise, customer-centric product development, and entrepreneurial momentum, looking forward to shaping the next growth phase from a financial perspective. Illiev added that it has been an honor to help shape the company's growth story and that he will remain connected to its mission.

Shelly Group develops, designs, and distributes IoT and smart building solutions for DIY and professional users, offering advanced technology, interoperability, and flexibility. Its products enable remote control, automation, and energy management via smartphones, PCs, or third-party systems, with revenue from both device sales and cloud applications. The company uses asset-light production through contract manufacturers and has a strong presence in German-speaking countries, with products in over 100 countries and subsidiaries in Germany, Bulgaria, Slovenia, Poland, the USA, and China. For more information, visit https://www.crossalliance.de or view the original release on https://www.newmediawire.com.