- After about four years in the position
- Accolades, praise, thanks and good wishes for Del Matto
- Keith Jensen taking over in the interim
- Del Matto spoke briefly and said 43 words
(exechange) — Sunnyvale, California, February 5, 2018 — Drew Del Matto, finance chief of Fortinet, leaves. It is a change at short notice. As announced by Fortinet, Inc. in a news release and in a regulatory filing published on Monday, February 5, 2018, Andrew H. (Drew) Del Matto leaves his post as Chief Financial Officer at the maker of cybersecurity software after about four years in the position, effective February 16, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.1 years, according to data compiled by exechange.
Del Matto’s duties will be taken over in the interim by Keith Jensen, most recently chief accounting officer at Fortinet, Inc.
Del Matto’s imminent departure from the CFO post is explained as follows. Fortinet said: Drew Del Matto “is leaving for another opportunity.”
Del Matto will be CFO at Citrix
Citrix Systems, Inc. announced that Andrew Del Matto has been appointed executive vice president and Chief Financial Officer (CFO), reporting to Citrix president and CEO, David Henshall, effective February 19, 2018.
Citrix is a software company that provides server, application and desktop virtualization, networking, software as a service, and cloud computing technologies.
Fortinet said: “On February 2, 2018, Andrew Del Matto informed Fortinet of his resignation from his position as Chief Financial Officer, effective February 16, 2018.”
Share price rise since February 2016
The change follows a rise in the share price of Fortinet, Inc. since February 2016.
Chaired by Ken Xie
Fortinet, Inc. is chaired by Ken Xie.
Xie serves as Founder, Chairman of the Board and Chief Executive Officer.
In the position of CFO since 2014
Del Matto has been Chief Financial Officer at Fortinet Inc. since January 2, 2014.
Del Matto brings over 20 years of financial management experience and expertise in the network security market.
Prior to joining Fortinet, Del Matto held a variety of senior management roles at Symantec including acting chief financial officer, as well as senior vice president and chief accounting officer.
Del Matto also served as Symantec’s corporate treasurer and vice president of finance business operations, responsible for all treasury functions, various aspects of mergers & acquisitions, pricing and licensing, financial planning and analysis, and revenue operations.
Prior to Symantec, Del Matto held senior finance leadership roles with Inktomi Corporation and SGI Corporation.
He began his career as a CPA in public accounting with KPMG LLP.
Read the full story in the exechange report 7.2018 ($).