Palo Alto Networks CFO Kathy Bonanno Announces Departure

Rhea-AI Summary

Palo Alto Networks (NYSE: PANW) announced the departure of CFO Kathy Bonanno, who will transition to Google's Cloud division after over six years with the company. Bonanno served as CFO since 2017, during which she oversaw significant expansion of Palo Alto Networks into a multi-platform security provider. CEO Nikesh Arora expressed gratitude for her contributions and confirmed that a new CFO will be appointed soon to ensure a seamless transition. The company aims to maintain stability during this leadership change.

Positive

• Kathy Bonanno led financial operations during significant company expansion.
• Transition strategy includes appointing a new CFO swiftly to minimize disruption.

Negative

• Leadership change potentially introduces uncertainty during a critical growth phase.

SANTA CLARA, Calif., June 22, 2020 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, today announced the departure of chief financial officer (CFO) Kathy Bonanno, who is leaving the company after more than six years to become business finance officer of Google's Cloud division.

Bonanno joined Palo Alto Networks in 2014, becoming executive vice president and CFO in 2017. 

"Kathy has presided over our financial team during Palo Alto Networks' tremendous expansion into a multi-platform security company," said Nikesh Arora, chairman and CEO, Palo Alto Networks. "She has chosen a close partner of ours for her next career step - one I know very well, and that has equally amazing people. I would like to thank Kathy for her many contributions to our company, and wish her the very best and continued success in her new role."

Bonanno will continue in her role through the end of the fiscal year to ensure a smooth transition of responsibilities to her successor. Palo Alto Networks expects to name a new CFO later this week.

About Palo Alto Networks

Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Our mission is to be the cybersecurity partner of choice, protecting our digital way of life. We help address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, we are at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. Our vision is a world where each day is safer and more secure than the one before. For more information, visit -1%26h%3D3840393078%26u%3Dhttp%253A%252F%252Fwww.paloaltonetworks.com%252F%26a%3Dwww.paloaltonetworks.com&a=www.paloaltonetworks.com" rel="nofollow">www.paloaltonetworks.com.

Palo Alto Networks and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.

 

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SOURCE Palo Alto Networks, Inc.

FAQ

What is the significance of Kathy Bonanno's departure from Palo Alto Networks (PANW)?

Kathy Bonanno's departure marks a leadership change that could influence Palo Alto Networks' strategic direction and financial management during a period of growth.

Who will succeed Kathy Bonanno as CFO of Palo Alto Networks (PANW)?

Palo Alto Networks plans to appoint a new CFO shortly after Kathy Bonanno's departure to ensure a smooth transition.

How long did Kathy Bonanno serve as CFO for Palo Alto Networks (PANW)?

Kathy Bonanno served as CFO for over three years, having joined the company in 2014.

What impact could Kathy Bonanno's departure have on Palo Alto Networks (PANW) stock?

The departure of a CFO can create uncertainty among investors, potentially impacting stock performance if not managed effectively.