Barracuda Networks CEO Resigns

Dean Drako, founder and chief executive of the security appliance vendor, has tendered his resignation. No replacement has been named, as Drako departs to pursue other opportunities.

  • Tweet  
  • LinkedIn  
  • Facebook  
  • Google plus  
  • Send to Kindle
  • Send to  

Security appliance vendor Barracuda Networks is launching a CEO search as its longtime leader and cofounder Dean Drako submitted his resignation. He is leaving the company July 18.

In the interim, the company will be managed by the newly formed Office of the CEO, headed by board member Gordon Stitt, chief marketing officer Michael Perone and chief financial officer David Faugno.

Related articles

“Dean has executed with extraordinary focus, integrity and passion for the company and its customers, leading Barracuda Networks from a startup concept to the worldwide leader in content security appliances,” said Faugno, in a statement. “We wish him well in his new venture, and are pleased he has agreed to remain on our board of directors as we continue to grow the company.”

Drako, who has served as the company’s chief executive since its inception in 2003, did not disclose his future plans. He did say that he achieved many of his goals, including maintaining an annual growth rate of 30 percent and profitability over the last year.

“I met my goal of building Barracuda Networks from an idea to a highly profitable, high recurring revenue company,” said Dean Drako, Barracuda’s President and CEO. “Barracuda now has the technology, user community, and growth ramp to be a thriving public company. I would like to thank Barracuda’s employees, partners and customers, who contribute daily to its success. With the team and strategy we have put in place, I have confidence Barracuda Networks will continue to deliver great things.”

Under Drako’s leadership Barracuda has grown into a formidable competitor in the security market, giving more entrenched companies like Websense, Blue Coat and SonicWall a run for their money in security appliances. Barracuda also has a strong channel presence with resellers and systems integrators.

While CEO searches are often challenging, particularly under abrupt circumstances, there’s no indication that Drako’s departure or the management by committee will change Barracuda’s operations and channel relationships.

By comparison, Palo Alto Networks went through a similar situation last  year when Lane Bess departed the CEO post. The company operated under an Office of the CEO for nearly eight months, during which time sales, market share and channel penetration flourished.

 

 

  • Tweet  
  • LinkedIn  
  • Facebook  
  • Google plus  
  • Send to Kindle
  • Send to  
More on Channel Business
sales-keyboard-button

Vendors overestimating sales as 100 percent channel

Lancope exec suggests 100 percent channel statement is overused, talks Lancope's channel strategy

treasure-chest-with-gold-coins

HP Storage: Channel 'treasured asset' for capturing mid-market

Executive tells Channelnomics channel partners are key factor amid competition from EMC, Pure Storage

Microsoft Surface Hub

Surface Hub to drive corporate interactive display sales - research

Futuresource Consulting doubles corporate market opportunity forecast from 2014 to 2016

tightrope8679

PC shipments set to stabilize thanks to commercial sector - IDC

Research firm also changes predictions for 2015 PC shipments to show steeper decline

Visitor comments
Add comments
blog comments powered by Disqus
In-depth
newspapers-and-glasses

Channelnomics' top five stories of the week - 28 August 2015

Check out which articles grabbed the most attention this week

jessica-m-225x300

Editor's voice: The week's channel chatter - 28 August 2015

What's been happening this week on Channelnomics?

hanshake-sunset

The $100 million tech summer

Five companies set a new standard for investment rounds, revealing a possible indicator of where the venture community sees the tech market going

success-game

MSP + SMB = Success

As their market share becomes ever more pressured, MSPs should focus their efforts on the SMB space