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SUNNYVALE, Calif., Nov 14, 2005 - Fortinet - the pioneer and market leader of Unified Threat Management and only provider of ASIC-accelerated, network-based multi-threat security systems for real-time network protection- today announced that Brett T. White has joined its management team as Chief Financial Officer (CFO).
Mr. White will be responsible for all financial functions within the company, in addition to working with other executives to increase Fortinet's growth, profitability and competitive position in the market. Additionally, Mr. White will be tasked with driving financial management, processes and controls, including continuing efforts to bring Fortinet in compliance with the Sarbanes-Oxley Act, a requirement for becoming a publicly-traded company.
"Following an extensive search that yielded many qualified candidates, I am pleased to welcome Brett to our team and look forward to working closely with him on guiding the strategy and direction of Fortinet," said Ken Xie, Fortinet founder, president and CEO. "Brett has successfully managed global, efficient and financially compliant high-growth organizations and brings the right mix of energy and experience to help lead Fortinet to continued growth and the next stage of success."
Mr. White's distinguished 20-year career has been focused on leading financial operations for growth-oriented global technology companies. Mr. White most recently was EVP and CFO for Corio Inc, an enterprise applications services company. During his tenure at Corio, the company's stock price grew by 355%, culminating in an acquisition by IBM in March of this year. Mr. White was responsible for a variety of finance and administration achievements at Corio, including implementing a formal investor relations program and upgrading of the company's financial controls, which led to the achievement of Sarbanes-Oxley certification. Mr. White's career background also includes nearly 10 years at Oracle, where he served as vice president of finance over a $3 billion business unit, as well as in various international finance roles. Additionally, Mr. White was CFO of KANA Software and held executive management positions at marchFIST.
"Fortinet is the market leader of one of the fastest-growing segments in the network security market and is led by a management team with a solid track record of success in building leading companies," Mr. White said. "I am excited to join the Fortinet team and look forward to helping drive the next stage of growth for this exceptional and accomplished company."
About Fortinet (www.fortinet.com)
Fortinet is the confirmed leader of Unified Threat Management market. The company's award-winning FortiGate™ series of ASIC-accelerated multi-threat security systems, winner of the 2004 Security Product of the Year Award from Network Computing Magazine and the 2003 Networking Industry Awards Firewall Product of the Year, are the new generation of real-time network protection systems. They detect and eliminate the most damaging, content-based threats from e-mail and Web traffic such as viruses, worms, intrusions, inappropriate Web content and more in real time - without degrading network performance. Fortinet's solutions are the only security products that are certified seven times over by the ICSA (firewall, antivirus, IPSec, SSL, IDS, client antivirus detection and cleaning), and deliver a full range of network-level and application-level services in integrated, easily managed platforms. Named a Light Reading Top 10 Private Company and #4 on Silicon Valley/San Jose Business Journal's "Fast 50" list, Fortinet is privately held and based in Sunnyvale, California.
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Two factors made it a clear decision for us to partner with Fortinet. The company has developed a strong reputation and market leadership for its security platform and breadth of products that can meet the varied needs of enterprises, service providers and carriers. This, together with our proven track record of providing high quality, cost-effective network services means the partnership is good for both companies and our clients across the globe.