SUNNYVALE, Calif., Dec. 1, 2010 /PRNewswire/ -- Palo Alto Networks™, the network security company, today announced that the Board of Directors and CEO and President Lane Bess have agreed that due to differences in leadership philosophy he will resign from his position. The Board of Directors has decided to pursue the hiring of a new Chief Executive Officer and President in light of the company's accelerated growth and performance track record and how it is poised to capitalize on a highly disruptive network security climate. The Office of the CEO will assume the role on an interim basis effective immediately.
"On behalf of the company, I'd like to acknowledge what Lane Bess has done for Palo Alto Networks – including getting to cash flow positive operations and over $100M in billings run rate during his tenure," said Nir Zuk, Founder and Board Director. "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."
Palo Alto Networks' Office of the CEO consists of the Chief Financial Officer Michael Lehman and the two Founders – Nir Zuk and Rajiv Batra.
About Palo Alto Networks
Palo Alto Networks™ is the network security company. Its next-generation firewalls enable unprecedented visibility and granular policy control of applications and content – by user, not just IP address – at up to 10Gbps with no performance degradation. Based on patent-pending App-ID™ technology, Palo Alto Networks firewalls accurately identify and control applications – regardless of port, protocol, evasive tactic or SSL encryption – and scan content to stop threats and prevent data leakage. Enterprises can for the first time embrace Web 2.0 and maintain complete visibility and control, while significantly reducing total cost of ownership through device consolidation. For more information, visit www.paloaltonetworks.com.
SOURCE Palo Alto Networks