Summary
Fortinet, Inc. (FTNT) announced on September 26, 2012, a significant change in its executive leadership with the departure of its Chief Financial Officer, Ken Goldman. Mr. Goldman is set to leave the company on October 19, 2012, to assume the CFO role at Yahoo! Inc. This departure represents a notable event for Fortinet as it seeks to transition its financial leadership to a new individual. In response to this resignation, Fortinet has appointed Nancy Bush, the current Vice President of Worldwide Corporate Controller, as the interim Chief Financial Officer, effective immediately. Ms. Bush brings valuable experience from her previous role at ArcSight, Inc., which was acquired by Hewlett-Packard. The company has also initiated a formal search process for a permanent CFO, considering both internal and external candidates. Investors will be keen to monitor the selection process and the impact of this leadership change on the company's financial strategy and performance.
Key Highlights
- 1CFO Ken Goldman is resigning effective October 19, 2012.
- 2Mr. Goldman is leaving to become CFO of Yahoo! Inc.
- 3Nancy Bush, VP of Worldwide Corporate Controller, appointed interim CFO, effective immediately.
- 4Fortinet is initiating a search for a new Chief Financial Officer.
- 5Internal and external candidates are being considered for the permanent CFO position.
- 6Ms. Bush has prior experience as VP of Finance at ArcSight, Inc.