Okta Appoints Brett Tighe as Chief Financial Officer

Rhea-AI Summary

Okta, Inc. (Nasdaq: OKTA) has appointed Brett Tighe as the new Chief Financial Officer, effective immediately. Tighe, who has been with Okta for nearly seven years and served as interim CFO since June 2021, aims to drive the company towards achieving its financial goals, including a target of $4 billion in revenue and a 20% free cash flow margin by fiscal 2026. CEO Todd McKinnon praised Tighe's contributions to the organization. As CFO, Tighe will oversee various functions, including accounting and financial planning.

Positive

• Brett Tighe's appointment as CFO may foster continuity in leadership.
• Tighe's experience includes nearly seven years at Okta and prior roles at Salesforce, enhancing credibility.
• The company has set ambitious financial targets, including $4 billion in revenue and a 20% free cash flow margin by fiscal 2026.

Negative

• Concerns may arise regarding the transition period from interim to permanent CFO.
• Potential experience gaps if Tighe lacks exposure in diverse financial leadership roles.

SAN FRANCISCO--(BUSINESS WIRE)-- Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced that Brett Tighe, Okta’s interim Chief Financial Officer, has been appointed to the role of Chief Financial Officer, effective immediately.

"Brett has been a key member of the finance organization since joining Okta nearly seven years ago, and a great partner to me and the executive team,” said Todd McKinnon, Chief Executive Officer and co-founder of Okta. “Since stepping into the interim CFO role last year, he has been instrumental in driving us towards achieving our financial and operational goals. We look forward to Brett’s continued success and leadership at Okta in the years to come.”

Before becoming interim CFO in June 2021, Tighe served as Okta’s Senior Vice President of Finance and Treasurer. Prior to joining Okta in 2015, Tighe spent nearly 11 years with growing responsibilities in the finance organization at Salesforce. He holds a Master of Business Administration from the University of San Francisco, and a Bachelor of Arts from the University of California, Santa Barbara.

"Okta is an exceptional organization with a unique opportunity to become an iconic cloud company,” said Tighe. “I am thrilled to take on this role, and look forward to continuing to execute on our strategic and established financial goals, including reaching $4 billion in revenue and a 20% free cash flow margin in fiscal 2026. The company is on a fantastic trajectory.”

As CFO, Tighe will lead Okta’s global finance organization and will be responsible for accounting, financial planning and analysis, internal audit, investor relations, tax, and treasury.

About Okta
Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 14,000 organizations, including JetBlue, Nordstrom, Siemens, Slack, Takeda, Teach for America, and Twilio, trust Okta to help protect the identities of their workforces and customers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005082/en/

Investor Contact:

Dave Gennarelli

investor@okta.com



Media Contact:

Patty Tredway

press@okta.com

Source: Okta, Inc.

FAQ

Who is Okta's new Chief Financial Officer?

Okta's new Chief Financial Officer is Brett Tighe, who was previously the interim CFO.

What are Brett Tighe's goals as CFO of Okta?

Brett Tighe aims to achieve $4 billion in revenue and a 20% free cash flow margin by fiscal 2026.

When did Brett Tighe become CFO of Okta?

Brett Tighe was appointed CFO of Okta effective immediately, as announced in the press release.

What experience does Brett Tighe bring to Okta as CFO?

Brett Tighe has nearly seven years of experience at Okta and previously held significant financial roles at Salesforce.

What responsibilities will Brett Tighe have as CFO?

As CFO, Tighe will oversee accounting, financial planning and analysis, internal audit, investor relations, tax, and treasury.