Sophos Appoints New CEO

Munford has been CEO of this Boston- and UK-based security company for the past seven years and has more than tripled bookings since that time. He will be returning to his native Canada.

Hagerman will also join the Sophos board of directors in addition to assuming his new role as CEO. He was previously CEO of Corel since 2008, where he took the company private, expanded the product portfolio and grew the customer base to over 100 million users.

[Related: Sophos Offers Free Android Antivirus ]

Prior to that, he served as group president, data center management, at Symantec, overseeing an organization that represented nearly 30 percent of the company's revenue. Previous to Symantec, Hagerman was executive vice president, storage and server management at Veritas, where he doubled revenues prior to the company's acquisition by Symantec.

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“Kris brings strong execution and strategy skills, a proven ability to lead top performing teams and a successful track record of scaling billion-dollar software organizations,” Gyenes said in a prepared statement. “We enthusiastically look forward to working with Kris and to his leadership for the company’s continued growth.”

The Sophos product portfolio includes encryption, endpoint security, unified threat management (UTM), mobile device management (MDM) and cloud encryption technologies. The company posted a record $400 million in annual bookings in its most recent fiscal year ending March 31, 2012. The company also reports more than 100 million users in 150 countries. Its products are backed by SophosLabs, a global network of threat intelligence centers.