McAfee LLC, a device-to-cloud cybersecurity company, has named Peter Leav as CEO. His appointment becomes effective February 3, 2020. Leav will succeed Chris Young, who is stepping down as CEO. Young will remain at McAfee as an adviser during the transition and become a senior adviser at TPG Capital. Most recently, Leav was president, CEO and board member of BMC Software. McAfee is backed by TPG and Thoma Bravo.
SANTA CLARA, Calif.–(BUSINESS WIRE)–McAfee, LLC, the device-to-cloud cybersecurity company, today announced that its Board of Managers has appointed Peter Leav to the role of Chief Executive Officer, effective February 3, 2020. Leav will succeed Chris Young, who has decided to step down as Chief Executive Officer of McAfee. Young will remain at McAfee in an advisory role to assist with the transition and will become a Senior Advisor at TPG Capital. Leav will also be appointed to McAfee’s Board of Managers.
Leav brings to McAfee more than 20 years of executive leadership experience and a demonstrated track record of leading large-scale technology companies through growth. Leav most recently served as President, CEO and a board member of BMC Software, Inc. Prior to joining BMC Software, Leav served as: President, Chief Executive Officer and Director of Polycom, Inc.; Executive Vice President and President, Industry and Field Operations, of NCR Corporation; and Corporate Vice President and General Manager of Motorola, Inc. Earlier in his career, Leav held executive sales leadership positions at Symbol Technologies, Inc. and Cisco Systems, Inc. He currently serves on the boards of Box and Proofpoint.
“I am delighted to be joining McAfee at this exciting time for the company and am looking forward to working with the team to pursue the significant growth opportunities ahead,” said Leav. “McAfee is one of the largest, most important cybersecurity brands in the world, with a commitment to innovation and excellence. By maintaining the forward-thinking, customer-centric approach that has come to define McAfee, I am confident that we will continue to play a very meaningful role in protecting individuals, businesses and communities from the rapidly changing cyber threat landscape.”
Since becoming a standalone cybersecurity company nearly three years ago, McAfee has reinforced its position at the forefront of the industry. By focusing and enhancing its Enterprise product portfolio through significant investments in next-generation Endpoint Detection and Response (EDR) solutions and device-to-cloud capabilities, McAfee has significantly increased its enterprise value and consistently grown its revenue in the mid-single digits and profit in the double digits.
“Peter has exactly the right mix of experience and expertise to lead McAfee in its next phase of growth,” said Jon Winkelried, Co-CEO of TPG and Chairman of McAfee. “Building on the significant progress McAfee has made over the last three years, Leav’s experience successfully scaling enterprise technology businesses, along with his strong innovation track record, will help push McAfee further in its mission to create a safer, more secure cybersphere.”
“We’re proud of the progress McAfee has made since becoming a standalone company, and we thank Chris for his pivotal role through the first phase of McAfee’s evolution,” said Tim Millikin, a partner at TPG Capital and McAfee board member. “With a universally respected brand, an expanded enterprise product portfolio, successful strategic entries into cloud and mobile security, and a strong leadership team, McAfee is well-positioned for continued growth under Peter’s leadership.”
“It has been a privilege to work with the McAfee team, and I am very proud of the results we have delivered for our customers, partners, employees and investors,” said Chris Young. “I look forward to continued involvement with McAfee in an advisory capacity through TPG Capital, and I am confident in the company’s future.”
McAfee is the device-to-cloud cybersecurity company. Inspired by the power of working together, McAfee creates business and consumer solutions that make our world a safer place. For more information, visit www.mcafee.com.
TPG is a leading global alternative asset firm founded in 1992 with more than $119 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.