Forescout Further Enhances Management Team with Appointment of Wael Mohamed as CEO

Rhea-AI Summary

Forescout Technologies has appointed Wael Mohamed as CEO, effective immediately. Mohamed, a seasoned leader with extensive experience in cybersecurity and digital transformation, previously served as President & COO of Trend Micro. He aims to drive growth and innovation at Forescout, which specializes in securing connected devices. Co-chairmen Greg Clark and Michael DeCesare will remain involved, ensuring continuity. The company announced strong fiscal performance, including double-digit ARR growth and a loyal customer base, having added over 300 new clients in key sectors.

Positive

• Appointment of Wael Mohamed as CEO expected to enhance leadership and strategic direction.
• Forescout reported double-digit year-over-year ARR growth.
• Company added over 300 new customers, expanding its market presence.

Negative

• None.

Mohamed brings proven track record of driving innovation, alliances and growth

Greg Clark to partner with Mohamed to continue Forescout’s mission to actively defend the Enterprise of Things

SAN JOSE, Calif., March 08, 2021 (GLOBE NEWSWIRE) -- Forescout Technologies, Inc., the leader in Enterprise of Things security, today announced that Wael Mohamed will join the company as chief executive officer, effective immediately. Greg Clark and Michael DeCesare will partner closely with Mohamed as they continue to serve as co-chairmen of Forescout’s board.

“Wael is an industry visionary and brings an incredible amount of cybersecurity, digital transformation and cloud experience to Forescout,” said Bryan Taylor, head of Advent’s technology investment team and a Managing Partner in Palo Alto. “We have built a strong leadership team to capture Forescout’s unprecedented market opportunity as we secure the Enterprise of Things. We are now adding in our long-term CEO. Greg and Wael are two of the best leaders within the industry and having them at Forescout will help us take this fantastic company to the next level.”

In August 2020, Advent International teamed up with Crosspoint Capital Partners, a private equity investment firm focused on the cybersecurity and privacy industries, to take Forescout private. Clark is also a managing partner at Crosspoint Capital.

Mohamed has been the driving force behind the success of important cybersecurity companies. Most recently, he served as President & COO, and board member at Trend Micro Group where he helped transform the company into a global leader in cybersecurity and added over $4B in shareholder value during his 11-year tenure. Mohamed joined Trend Micro in 2009 after the acquisition of Third Brigade, a company he co-founded.

“Forescout is at the heart of one of the biggest security and compliance challenges that enterprises face today. Everything – IoT, OT, cloud workloads, traditional user devices, servers - is a ‘Thing’ with an IP address. Increasingly, these Things are unagentable, but enterprises cannot afford for them to be unmanageable. Forescout delivers an active defense for the Enterprise of Things and has earned the trust of the most trusted companies in the world,” said Mohamed. “I am thrilled to join the talented management team and work closely with Greg and the Board so we can further accelerate our growth and continue to deliver innovation that helps enterprises mitigate risks brought on by the billions of network-connected devices.”

Over the last six months, Forescout has attracted new leaders and talent, invested in R&D and streamlined its organizational structure and processes to drive future growth and innovation. The company recently announced its private company update as it closed out the fiscal year ending December 2020 with double-digit year-over-year ARR growth and ~70% recurring revenue. Forescout also added over 300 new logos to its loyal and growing install base of organizations around the world, as well as key platform wins across government, financial services, healthcare and manufacturing.

About Forescout
Forescout Technologies, Inc. actively defends the Enterprise of Things by identifying, segmenting and enforcing compliance of every connected thing. Fortune 1000 companies trust Forescout as it provides the most widely deployed, enterprise-class platform at scale across IT, IoT and OT managed and unmanaged devices. Forescout arms customers with more device intelligence than any other company in the world, allowing organizations across every industry to accurately classify risk, detect anomalies and quickly remediate cyberthreats without disruption of critical business assets. Don’t just see it. Secure it.

The Enterprise of Things – Secured. Learn more at www.forescout.com.

© 2021 Forescout Technologies, Inc. All rights reserved. Forescout Technologies, Inc. is a Delaware corporation. A list of our trademarks and patents can be found at https://www.forescout.com/company/legal/intellectual-property-patents-trademarks. Other brands, products, or service names may be trademarks or service marks of their respective owners.

Media Relations Contact
Katie Beck
Forescout Technologies, Inc.
katie.beck@forescout.com

FAQ

Who is the new CEO of Forescout?

Wael Mohamed has been appointed as the new CEO of Forescout Technologies.

What experience does Wael Mohamed bring to Forescout?

Wael Mohamed brings extensive cybersecurity and digital transformation experience, having previously served as President & COO at Trend Micro.

What are Forescout's recent financial highlights?

Forescout reported double-digit year-over-year Annual Recurring Revenue (ARR) growth and expanded its client base by adding over 300 new customers.

What role will Greg Clark have after the leadership change?

Greg Clark will continue to serve as a co-chairman of Forescout's board, partnering with the new CEO.