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BOSTON - Carbonite, Inc. (NASDAQ: CARB), a global leader in data protection, announced that Steve Munford, Chairman of the Company’s Board of Directors, has been named Interim Chief Executive Officer and Executive Chairman of the Board, effective immediately. This appointment follows Mohamad Ali’s decision to step down as President, CEO and member of the Company’s Board in order to pursue other professional opportunities in the media and research industry.
Mr. Munford has nearly two decades of executive leadership experience in the security software industry, with a strong track record of driving operational execution. He has served as a member of the Carbonite Board since January 2014, and as Chairman of the Board since March 2016. Most recently, Mr. Munford served as Interim CEO of Absolute Software Corporation, a leading computer and network security company, where he helped refocus the company’s growth strategy and oversaw the transition to a permanent CEO. Prior to that, he served as CEO of Sophos Group plc, a developer and vendor of security software, where he led the company through a period of rapid expansion and firmly established Sophos as a leading provider of security solutions to the mid-market. Mr. Munford also served on Sophos' Board of Directors from September 2012 to February 2019.
“We are confident that Steve’s experience as a leader in the security software industry will empower him to hit the ground running as Interim CEO,” said Mr. Charles Kane, director and member of the Nominating and Governance Committee of the Board. “Steve understands both the Carbonite data protection business and our recently acquired Webroot security business. We expect his proven executive experience will make this a seamless transition.”
“I look forward to working with our talented management team to continue to advance Carbonite position in data protection and security software,” said Mr. Munford. “Carbonite is uniquely positioned to offer customers the integrated and robust data protection solutions they need to protect their essential business data, especially at the endpoint. The combination of Carbonite’s product portfolio and Webroot security software creates unique opportunities to deliver enhanced value to all of our stakeholders.”
Mr. Munford continued, “On behalf of the Board, I want to thank Mohamad for his contributions as CEO and for establishing Carbonite as a leader in the data protection and security space. We all wish him success in his new role.”
Mr. Ali said, “I am incredibly proud of all that we have accomplished together. Carbonite has a great team in place, and I believe that now is the right time to make a transition. I look forward to following the Company’s continued success.”
The Carbonite Board is conducting a thorough and comprehensive search, with the assistance of an international executive search firm, to identify the best candidate to serve as the Company’s next CEO.
