Life Is Hard S.A Has a New Top Management Team in 2024

LIFE IS HARD, a technology company listed on the Bucharest Stock Exchange’s AeRo market, announces the consolidation of its top management team starting in 2024. The business objectives, which aim for accelerated growth through the optimal monetization of the high potential of products and digital insurance competencies held by LIH, will be supported by a new management team.

Thus, the Board of Directors of LIFE IS HARD S.A. has approved the withdrawal of Erik Barna from the role of Director of the Insurance division starting May 1, 2024. The new LIH executive team led by entrepreneur Cătălin Chiș as CEO will have 4 new members at the top management level.

The role previously held by Erik Barna is taken over, starting April 1, 2024, by Cristian Filimon, a manager with 25 years of experience in the insurance industry in Romania, who becomes the Director of the Insurance division within LIH. Cristian Filimon has led the activities of Romania’s largest life insurance broker, OVB, for 14 years, where he participated in the continuous growth of internal teams, sales management, and coordinated the integration of the company into a strong international network.

“I am thrilled that LIFE IS HARD, the company I founded 20 years ago and subsequently developed alongside Cătălin Chiș, is ready to embark on regional expansion as one of its engines of growth. Looking towards the future, I am excited to see the direction LIH is heading under this new leadership, and I am confident that the team will continue to innovate, inspire, and push the boundaries of what is possible, writing the next chapter of its success. For me, this step marks the beginning of a new personal chapter where I will dedicate my time and energy to new projects and entrepreneurial initiatives that inspire me. I will stand by the team as a Strategic Advisor for the Insurance division, always keeping in mind the lessons learned and the precious memories from LIFE IS HARD,” says Erik Barna, as he hands over the operational lead.

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Alongside Cristian Filimon, the LIFE IS HARD team is expanding with three additional new members who will occupy key positions in the company: Mihai Barabas, Chief Technology Officer (CTO), Beatrice Cherecheș, Chief Financial Officer (CFO), and Radu Moldovan Petruț, Chief Marketing Officer (CMO).

Mihai Barabas has joined the LIFE IS HARD team as Chief Technology Officer. With 25 years of experience in technology and IT strategy, Mihai is now responsible for developing and implementing an integrated vision to support LIH’s business objectives. His main responsibilities include overseeing technological innovations, managing IT infrastructure, and ensuring security and compliance.

Beatrice Cherecheș has taken on the role of Chief Financial Officer (CFO). With over 20 years of experience in financial and accounting fields, Beatrice has worked within top companies in industries such as production and services, holding positions in financial controlling teams as well as management roles. Within LIH, Beatrice Cherecheș is responsible for coordinating and optimizing financial processes throughout the company. Among her responsibilities are developing financial and accounting policies and strategies, monitoring financial performance, and ensuring economic efficiency.

Radu Moldovan Petruț is the new Chief Marketing Officer recruited by LIFE IS HARD. With over 16 years of marketing experience in the FMCG industry, Radu previously served as the Global Business Development and Market Activation Director for The Absolut Company, where he led an international team of specialists. In addition to his recent professional experience, Radu has undergone high-level training such as an EMBA at ESPC Europe Business School, courses in design thinking, innovation, advanced marketing, and training at schools in the UK and France. In LIFE IS HARD, Radu Moldovan Petruț develops positioning strategies for the LIH ecosystem and coordinates marketing and communication teams responsible for implementing the company promotion plans and product & service offerings.

“Although activities are becoming increasingly automated and Artificial Intelligence is gaining ground, the human component remains an essential foundation for the growth of LIFE IS HARD. This year, we are adding more strength to the management team, introducing new roles and talents to the organization, who bring expertise in international markets. With their help, we will be able to operationalize the company’s ambitious development plans more rapidly: we aim for a new dimension of business and increased relevance of LIH’s role in insurance at the regional level. We envision LIH becoming a hub that facilitates the market entry of new players through MGA, respectively extending digital access to insurance through an embedded strategy, enabling the swift conclusion of a policy remotely, anytime and anywhere someone needs extra protection.

We have room for big growth, and this year we are strengthening the team with experts who can support and coordinate the development of new products and distribution mechanisms, integrating and communicating new technologies, and also overseeing the financial balance of the company,” says Cătălin Chiș, CEO of LIFE IS HARD and member of the Board of Directors.

In 2023, LIFE IS HARD, together with its holdings (Innobyte Solutions 100%, and Performia Finance 40%), experienced a doubling of net profit, reaching over 7 million lei. The consolidated EBITDA for the three companies increased by approximately 65%, and the total business volume amounted to 43.9 million lei in revenue, marking a growth of 23.8% compared to 2022. These results were made possible through the collective effort of all LIH colleagues, guided by an exceptional team of leaders