In a much anticipated announcement, McAfee, Inc. (NYSE:MFE) reported Wednesday that Jonathan Chadwick will join the company as chief financial officer.
Effective June 14th, Chadwick, 44, will report directly to President and Chief Executive Officer, Dave DeWalt in McAfee’s Santa Clara, California office.
Chadwick will replace Rocky Pimentel who announced his retirement in February but plans to remain with McAfee into Q3 as transition period. Chadwick will lead finance, manufacturing, procurement, facilities and information technology operations worldwide.
“Chadwick will bring tremendous skills in strategic planning, finance and business leadership,” said DeWalt. “Having been a divisional CFO and chief accounting officer at a Fortune 100 high technology company, combined with his 20 years of extensive experience in fast-growth environments, will give him the ability to contribute broadly to our finance, operations and business strategy.”
A 13 year Cisco Systems veteran, Chadwick most recently held the position of senior vice president and CFO, Global Customer Markets overseeing Cisco’s finance teams for the service provider, enterprise, commercial, small business and consumer customer segments.
Previously, Chadwick was Cisco’s corporate controller, responsible for a team of more than 1000 employees managing external reporting, compliance, procurement, shared services, and global process, systems and controls. Prior to that he ran the Corporate Finance and Planning group at Cisco. Chadwick is a Chartered Accountant in England and holds an honors degree in electrical and electronic engineering from the University of Bath, England.
McAfee’s first quarter financial results announced on April 29th marked its 17th consecutive quarter of double-digit, year-over-year revenue growth along with record operating cash flow.
Despite record first quarter revenue and growth, the company has suffered from several operational challenges and order fulfillment issues. McAfee also suffered from a recent faulty antivirus signature update which caused major issues with enterprise customers around the world. As a result of the incident, it expects a negative impact of $0.01 to $0.02 per share in the second quarter.