(Bloomberg) -- Forescout Technologies Inc. announced Greg Clark, the former of chief executive officer of Symantec Corp., will be stepping in as CEO on the heels of Advent International Corp.'s $1.4 billion buyout.
The current CEO Michael DeCesare's five-and-a-half year tenure in the position will end on Oct. 1, and he will be joining Clark as co-chair of the company's board, a Forescout representative said in an emailed statement.
“Greg brings an immense amount of cybersecurity and operational expertise to Forescout, and he will continue to execute on its vision of delivering the industry's only solution that actively defends the Enterprise of Things at scale to secure our customers' critical assets,” said the spokesperson.
The move comes after private equity firm Advent International acquired the cybersecurity group in July at a discount to its original $1.9 billion deal price.
Clark stepped down from Symantec in May 2019, six months after a November 2018 internal investigation uncovered about $12 million in improperly recognized revenue. His exit sent shares tumbling as investors sued Symantec, saying its directors and officers misled them through improper revenue recognition. Broadcom Inc. purchased the Symantec's enterprise unit for $10.7 billion in August 2019, and the new company became NortonLifeLock Inc.
Story Link: Forescout Says Ex-Symantec Chief Clark Will Take Over as CEO
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