Palo Alto Networks' CEO Agrees to Resign Due to Differences in Leadership Philosophy
Palo Alto Networks, the company best known for its next generation firewalls, is in search of a new CEO. The company announced that “due to differences in leadership philosophy,” the Board of Directors and CEO and President Lane Bess have agreed that he will resign from his position. Bess has served as CEO of Palo Alto Networks since July 2008.
Chief Financial Officer Michael Lehman, who has been with the company since April 2010, along with co-founders Nir Zuk (former CTO at NetScreen Technologies) and Rajiv Batra, will be taking over responsibilities while a replacement is found.
The company, which has only been selling a product since August 2008, has over 2,500 customers and is exceeding a $100 million annual sales run rate which the company plans to at least double in 2011.
"Companies that experience tremendous growth and fervent market adoption stand to benefit exponentially by making pivotal moves – including leadership changes – at this specific point in the company's inflection,” said Nir Zuk, Founder and Board Director.
The board wants to find a strong leader who can take the company to the next level. Anyone want to be CEO of a fast growing security company that will likely go public in the next few years?