Barracuda CEO Resigns

Board of Directors member Gordon Stitt, Co-founder/CMO Michael Perone and CFO David Faugno will jointly share the management reins until a replacement is found.

“I met my goal of building Barracuda Networks from an idea to a highly profitable, high-recurring revenue company,” said Drako, in a prepared statement. “Barracuda now has the technology, user community, and growth ramp to be a thriving public company. I would like to thank Barracuda’s employees, partners and customers, who contribute daily to its success."

[Related: Barracuda Networks Breach Exposes Partner Contact Information ]

The company reports nearly 30 percent growth year-over-year since its inception, and its worldwide customer base grew from 85,000 to 150,000 customers in the past two years. Barracuda currently has nearly 1,000 employees and 10 offices, and it does business in more than 80 countries.

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