Symantec Announces Appointment of Michael Fey as President and Chief Operating Officer Upon Closing of Blue Coat Acquisition
July 11 2016 - 4:05PM
Business Wire
Symantec Corp. (NASDAQ:SYMC) today announced that Michael
Fey will join Symantec as President and Chief Operating
Officer upon closing of the previously announced acquisition of
Blue Coat, Inc. He will report to Greg Clark, Symantec
CEO-designate.
“Mike, like Greg, has a proven ability to accelerate turnarounds
and ignite significant revenue growth inside organizations,” said
Dan Schulman, Chairman of the Symantec Board of Directors. “His
initial focus will be on merging the go-to-market functions of the
combined companies to take advantage of the tremendous cross-sell
and upsell opportunity formed by the powerful combination of these
two market leaders.”
“Mike is a security industry visionary with significant
experience in sales and operations and deep knowledge of the
endpoint market. He played an integral role in driving Blue Coat
forward, including defining our open platform strategy and leading
our technology alliance partnership, and I am delighted that he
will join Symantec as President and COO,” said Greg Clark, Symantec
CEO-designate. “Mike has a proven track record of driving and
maintaining profitable growth while achieving operational
excellence at scale. This, along with his substantial go-to-market
expertise, will be instrumental as we complete the Symantec-Blue
Coat transaction. Mike has been deeply involved in the integration
planning and will continue to work closely with planning teams from
both companies to ensure a thoughtful and seamless transition.”
Mr. Fey is an accomplished enterprise security executive with a
highly technical background and more than a decade of cybersecurity
experience. As President and COO of Blue Coat, he has focused on
aligning the company's leading web security, encrypted traffic
management, cloud security, and advanced threat protection
solutions with customer requirements, and was responsible for all
aspects of sales, marketing, support, services and product
management. Prior to joining Blue Coat, Mr. Fey served as CTO of
Intel Security and General Manager of McAfee Corporate Products,
where he drove its long-term enterprise strategic vision and
innovation in the endpoint, network and security analytics
segments.
“The joining of these two companies is unprecedented in the
cybersecurity industry, and I couldn’t be more energized by this
amazing opportunity,” said Mr. Fey, currently President and COO of
Blue Coat. “By combining Symantec’s leading threat telemetry with
Blue Coat’s network and cloud security, we will provide customers
with unrivaled threat protection and unmatched cloud security. The
scale and portfolio of the combined companies will best protect
customers’ users, endpoints, emails, servers and data, both on
premises and in the cloud. I look forward to collaborating with the
exceptionally talented people at both Symantec and Blue Coat as we
set the pace for innovation industrywide.”
The companies expect an efficient and successful integration
given their complementary product offerings and distinct customer
footprints, as well as Blue Coat’s management team’s track record
of integration. As part of integration planning, Symantec and Blue
Coat leaders are working on identifying the combined company’s
complete executive team post-close.
About Michael Fey
Michael Fey joined Blue Coat in 2014 as President and Chief
Operating Officer. Prior to joining Blue Coat, Mr. Fey served as
executive vice president, chief technology officer, and general
manager of corporate products for Intel Security. In this role, he
drove the company's strategic vision and security innovation. Mr.
Fey also managed business operations and strategy for all corporate
product business units at McAfee, part of Intel Security.
Previously, he was senior vice president of advanced technologies
and field engineering at McAfee, where he oversaw corporate
acquisitions and engaged with global customer executives and
prospects to develop, build, and implement strategic security
solutions. An industry veteran, Mr. Fey has held leadership
positions with Opsware, Mercury Interactive, and Lockheed-Martin.
Mr. Fey graduated magna cum laude with a Bachelor of Science in
Engineering Physics from Embry-Riddle Aeronautical University.
About Symantec
Symantec Corporation (NASDAQ: SYMC) is the global leader in
cybersecurity. Operating one of the world’s largest cyber
intelligence networks, we see more threats, and protect more
customers from the next generation of attacks. We help companies,
governments and individuals secure their most important data
wherever it lives.
Forward-Looking Statements
This press release contains statements which may be considered
forward-looking within the meaning of the U.S. federal securities
laws, including statements regarding the acquisition of Blue
Coat, Inc. and the appointment of Michael Fey as President and
COO, the time frame in which this will occur, and the expected
benefits to Symantec, its customers, stockholders and
investors from completing the acquisition, including expected
growth, earnings accretion and cost savings. These statements are
subject to known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements to
differ materially from results expressed or implied in this press
release. Such risk factors include those related to: required
regulatory approvals and the satisfaction of other closing
conditions, the potential impact on the businesses of Blue
Coat and Symantec due to uncertainties regarding the
acquisition; the retention of employees of Blue Coat and
the ability of Symantec to successfully
integrate Blue Coat and to achieve expected benefits;
general economic conditions; fluctuations and volatility in
Symantec’s stock price; the ability of Symantec to
successfully execute strategic plans; maintaining customer and
partner relationships; fluctuations in tax rates and currency
exchange rates; the timing and market acceptance of new product
releases and upgrades; and the successful development of new
products, and the degree to which these products and businesses
gain market acceptance. Actual results may differ materially from
those contained in the forward-looking statements in this press
release. Symantec assumes no obligation, and do not
intend, to update these forward-looking statements as a result of
future events or developments. Additional information concerning
these and other risks factors is contained in the Risk Factors
section of Symantec’s Form 10-K for the year ended April 1,
2016.
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version on businesswire.com: http://www.businesswire.com/news/home/20160711006331/en/
Symantec Corp.MediaMara Mort,
415-850-8645mara_mort@symantec.comorInvestorsJonathan Doros,
650-527-5523jonathan_doros@symantec.com
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