Cybersecurity company Palo Alto Networks’ head of sales has resigned from the company. Peranich had a major role in the company’s revenue surging to $2.3 billion as of fiscal 2018.
A spokesperson for Palo Alto Networks told CNBC that Dave Peranich, executive vice president of worldwide sales, will leave the company in September. The search for Peranich ‘s replacement is still on, as indicated by the firm’s spokesperson – according to the CNBC report.
On Friday, Palo Alto Networks' stock price plunged -7% on the news, pushing it down o its worst closing in two years.
Palo Alto Networks has witnessed quite a few changes in executive roles in recent times. In June 2018, the company’s former CEO Mark McLaughlin was replaced with former SoftBank and Google executive Nikesh Arora. In October, it replaced former President Mark Anderson with former Google executive Amit Singh. According to The Information, former senior vice president and general manager of Americas sales Patrick Blair also left earlier this year.