Forcepoint CEO Steps Down After Rebranding From Raytheon|Websense
John McCormack has stepped down from the role of Forcepoint's CEO, CRN has learned, in the latest iteration of a series of sweeping changes at the Austin, Texas-based security vendor as it unites parts of Raytheon, Websense and other lines under a single brand.
Forcepoint confirmed the departure in an email to CRN, saying McCormack had left his position March 31. The company said McCormack will remain with Forcepoint as an adviser to the board of directors through the end of the year.
The company has named CFO Jim Hagan as interim CEO and is conducting an external search for a successor. It said it expects that search to be completed within a few weeks.
"The commercial cyber security market is growing and Forcepoint is uniquely positioned to capture market share and serve an expanding customer base," a Forcepoint spokesperson said in an email to CRN. "The company is a key part of Raytheon's overall growth strategy and we are committed to their long-term success."
In May, Waltham, Mass.-based defense contractor Raytheon closed its acquisition of Websense for $1.9 billion, forming a joint venture called Raytheon|Websense that combined the security vendor with Raytheon Cyber Products (RCP). More recently, in October, the company announced internally that it planned to acquire the McAfee Next-Generation Firewall and McAfee Firewall Enterprise businesses from Intel Security (also known as Stonesoft and Sidewinder, respectively), in an acquisition that closed this past January.
The company has since united under the brand Forcepoint, saying the new name would help the company provide clarity on its vision for a unified security platform. At the time of the rebranding, partners said the new name was a critical step in the company's push to bring together multiple vendor solutions under a single roof, but that the company's work wasn't done to repair its standing in the market.
Partners said they weren't surprised by McCormack's departure, saying that it makes sense as the next logical step in the company's move to unite under a single brand. One partner executive, who did not want to be named, said Friday that a new CEO could help the company make the transformative steps it needs to take it to the next level.
"They're a company in transition. It's probably a good thing they [will] have a new CEO," the executive said.
Andrew Plato, president of Anitian, a Beaverton, Ore.-based security consultancy, said he sees the company as well-positioned to capitalize on a growing market for security analytics.
"I think Raytheon has a vision to play in the security analytics space, and the acquisitions they've done show that. They really want to charge ahead and compete head on with the big players in the market," Plato said.