- Push-out Score determined
- After almost 20 years in the position
- Accolades, praise and thanks for Cote
- Wendy Thomas taking over
- Cote spoke at length and said 147 words
(exechange) — Atlanta, Georgia, June 3, 2021 — Mike Cote, chief executive of Secureworks, leaves. As announced by Secureworks Corp. in a news release and in a regulatory filing published on Thursday, June 3, 2021, Michael R. (Mike) Cote leaves his post as chief executive officer at the cybersecurity company after almost 20 years in the role, effective September 3, 2021.
It is the end of an era.
Mike Cote’s duties as CEO will be taken over by Wendy K. Thomas, currently President of Customer Success at Secureworks Corp.
No reason given
In the announcement, Secureworks did not explicitly explain the reason for Mike Cote’s move, leaving room for speculation.
Precise information regarding Mike Cote’s future plans was not immediately available.
Secureworks said: “Chief Executive Officer Michael R. Cote is retiring as CEO and a member of the Secureworks Board of Directors, effective Sept. 3, 2021.”
Secureworks further said: “On May 29, 2021, Michael R. Cote, Chief Executive Officer and a member of the Board of Directors of SecureWorks Corp. (the “Company”), notified the Company of his decision to retire as Chief Executive Officer and as a director of the Company effective as of September 3, 2021.”
Share price decline since January 2019
The announcement follows a decline in Secureworks Corp.’s share price of 9% since January 2019.
Chaired by Michael Dell
Michael Dell serves as Secureworks Corp.’s Chairman.
Dell has served as a director and the Company’s non-executive Chairman of the Board since December 11, 2015. Dell serves as Chairman of the Board and Chief Executive Officer of Dell Technologies.
In the position of CEO since 2002
Mike Cote became CEO of the Company in 2002.
Cote has served as the Company’s Chief Executive Officer since May 2015 and as President and Chief Executive Officer from May 2015 to April 2020.
He served as General Manager and as Vice President of Dell Inc. from the Company’s acquisition by Dell Inc. in February 2011 until May 2015.
Before the Company’s acquisition by Dell Inc., Cote had served as the Company’s Chairman, President and Chief Executive Officer since February 2002.
From January 2000 to January 2002, Cote was Chief Financial Officer of Talus Solutions, Inc., a pricing and revenue management software firm acquired in December 2000 by Manugistics Group, Inc., a public supply chain management software company.
From February 1997 until September 1999, Cote served as Chief Operating Officer and Chief Financial Officer of MSI Solutions Inc., a web application development and systems integration company that was acquired in September 1999 by Eclipsys Corporation, a public healthcare software company.
From April 1993 to January 1997, Cote served as the Chief Financial Officer of Medaphis Corporation, or Medaphis (subsequently acquired by Per-Se Technologies, Inc.), a provider of financial and administrative healthcare solutions, where he managed numerous acquisitions and equity offerings.
He served as the Controller of Medaphis from March 1992 until April 1993.
Before March 1992, Cote held various positions at KPMG LLP, an independent registered public accounting firm.
Cote serves on the board of directors of Extrahop Networks, Inc., Children’s Healthcare of Atlanta, the board of regents of Boston College and the board of trustees of Marist School.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Cote’s move on a scale of 0 to 10.
exechange reached out to Secureworks and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 23.2021 ($).