McAfee has announced that its CEO, Chris Young, has decided to step down to take on a new role at private equity firm TPG Capital after nearly three years as the head of the company. At the same time, the cybersecurity company has announced its replacement CEO, with Peter Leav, former president, CEO and board member of BMC Software, taking on the role.
Leav brings to McAfee more than 20 years of executive leadership, having worked at companies ranging from Polycom to NCR Corporation to Motorola. His new role as CEO of McAfee also sees him appointed to its board.
"I am delighted to be joining McAfee at this exciting time for the company and am looking forward to working with the team to pursue the significant growth opportunities ahead," said Leav.
"McAfee is one of the largest, most important cybersecurity brands in the world, with a commitment to innovation and excellence. By maintaining the forward-thinking, customer-centric approach that has come to define McAfee, I am confident that we will continue to play a very meaningful role in protecting individuals, businesses and communities from the rapidly changing cyber threat landscape."
"Peter has exactly the right mix of experience and expertise to lead McAfee in its next phase of growth," added Jon Winkelried, Co-CEO of TPG and Chairman of McAfee.
"Building on the significant progress McAfee has made over the last three years, Leav’s experience successfully scaling enterprise technology businesses, along with his strong innovation track record, will help push McAfee further in its mission to create a safer, more secure cybersphere."
"We’re proud of the progress McAfee has made since becoming a standalone company, and we thank Chris for his pivotal role through the first phase of McAfee’s evolution," commented Tim Millikin, a partner at TPG Capital and McAfee board member.
"With a universally respected brand, an expanded enterprise product portfolio, successful strategic entries into cloud and mobile security, and a strong leadership team, McAfee is well-positioned for continued growth under Peter’s leadership."
"It has been a privilege to work with the McAfee team, and I am very proud of the results we have delivered for our customers, partners, employees and investors," concluded Chris Young.
"I look forward to continued involvement with McAfee in an advisory capacity through TPG Capital, and I am confident in the company’s future."