Steele, 59, founded Proofpoint in November 2002, took the company public in April 2012 at a valuation of $385.6 million, became chairman in 2018, grew Proofpoint’s workforce to 3,300 staff, and engineered the company’s $12.3 billion sale to Thoma Bravo in August 2021.
#SPLUNK CEO GARY STEELE FULL#
“Splunk is executing against a tremendous opportunity, and I look forward to working with the team to ensure the business reaches its full potential.” “I’ve dedicated my career to helping companies around the world safeguard their data, systems and infrastructure, and know firsthand how critical Splunk’s products and services have become,” Steele said in a statement. Steele was additionally granted $12 million of restricted stock units with a four-year vesting period, and $18 million of performance-based stock units that, if earned, will vest over three years, according to regulatory filings. To lure Steele from Proofpoint, Splunk offered him a base salary of $900,000, a cash signing bonus of $8 million, and a target annual bonus of 125 percent his annual base salary. 31 increased 21 percent from $745.1 million to $901.1 million, while net income worsened slightly to $140.8 million, or $0.88 per diluted share, 0.9 worse than a net loss of $139.5 million, or $0.86 per diluted share, the year prior. The company also announced Wednesday that sales in the quarter ended Jan. Splunk’s stock is up $2.08 (1.81 percent) to $117 per share in after-hours trading Wednesday. “We’re thrilled to welcome Gary to the Splunk team.”
#SPLUNK CEO GARY STEELE SOFTWARE#
“Gary is a visionary leader whose software and cybersecurity expertise, deep understanding of SaaS and recurring revenue models, and unwavering commitment to driving innovation and customer success on a global scale will be invaluable to Splunk on our path to $5 billion and beyond,” Smith said in a statement. Steele takes over April 11 for Graham Smith, who has served as the company’s interim CEO since longtime leader Doug Merritt abruptly resigned in November 2021.
The San Francisco-based data platform giant praised Steele for successfully scaling SaaS operations and growing multi-billion-dollar global enterprises during his two decades leading Sunnyvale, Calif.-based email security vendor Proofpoint. Splunk has landed Proofpoint founder and CEO Gary Steele as its next top executive to help the security and observability vendor further scale its business.
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