- After 20 years in the position
- Praise and thanks for Courtot
- Sumedh Thakar taking over in the interim
(exechange) — Foster City, California, March 22, 2021 — Philippe Courtot, chief executive of Qualys, leaves. As announced by Qualys Inc. in a news release and in a regulatory filing published on Monday, March 22, 2021, Philippe F. Courtot has left his post as chief executive officer at the provider of cloud-based IT, security and compliance products after 20 years in the role, effective March 19, 2021.
Philippe Courtot’s duties as CEO were taken over in the interim by Sumedh S. Thakar, most recently president and chief product officer of Qualys Inc., as interim chief executive officer.
It is a generational change as well. Sumedh Thakar is about 32 years younger than Philippe Courtot.
Philippe Courtot’s departure from the CEO post is explained as follows. Qualys said: “Philippe Courtot, chairman of the board and chief executive officer, has resigned from his role as CEO for health reasons.”
Qualys said: “On March 19, 2021, Philippe Courtot, Chairman of the Board and Chief Executive Officer of Qualys, Inc. (the “Company”), resigned from all officer and employee positions with the Company and its subsidiaries due to health issues unrelated to COVID-19.”
Qualys further said: “On February 7, 2021, Courtot took a leave of absence due to health issues unrelated to COVID-19. At this time, Sumedh Thakar, Qualys’ president and chief product officer, was named interim CEO and principal executive officer and appointed to the Board. Thakar remains in those positions following today’s announcement.”
Share price increase since March 2016
The announcement follows an increase in Qualys Inc.’s share price of 279% since March 2016.
In the position of CEO since 2001
Philippe Courtot became CEO of the Company in 2001.
Courtot will remain a director until his current term expires at the Qualys’ 2021 annual meeting of stockholders and will not stand for re-election.
Thakar will continue to serve on the Board as a Class III director until Qualys’ 2021 annual meeting of stockholders, or until his successor is duly elected and qualified.
Philippe F. Courtot has served as the Company’s Chairman and Chief Executive Officer since March 2001 and has been a director since January 2000.
He also served as the Company’s President from May 2014 to October 2019 and from March 2011 to November 2013.
From April 1999 to February 2000, Courtot served as Chairman and Chief Executive Officer of Signio Inc., a secure payments solution provider, until its acquisition by VeriSign, Inc.
Courtot holds a Master of Science degree from the University of Paris.
Push-out Score not determined
When the reason for the departure is health-related, a Push-out Score™ is not determined.
Read the full story in the exechange report 13.2021 ($).