Security company, Sophos, has appointed Kris Hagerman as its new chief executive officer (CEO), effective immediately.
Hagerman replaces Steve Munford, who has assumed the position of non-executive chairman of the board, and will be returning to his native Canada. Peter Gyenes, the current chairman, will continue as a member of the Sophos board as its lead independent director.
Before joining Sophos, Hagerman spent seven years in senior management positions at Symantec and Veritas before becoming CEO of Corel Corporation in 2008.
In his time at Corel Corporation, Hagerman took the company private, improved its profitability, enhanced its product portfolio and quality, and grew the customer base to over 100 million users.
Munford, who has been Sophos CEO since 2006, has been credited for leading the company through a period of dramatic growth, including its record $US400 million in annual bookings in its most recent fiscal year, ending March 31, 2012.
“Under Munford’s leadership, the company has delivered strong revenue growth, built a comprehensive product portfolio, and successfully entered a number of high-growth market segments, including UTM, mobile device management, and Cloud encryption,” Gyenes said.