Christopher Young, Former General Manager of Intel Security, Named CEO of McAfee
McAfee, a security vendor recognized as trusted around the world, today announced that it has begun operations as a new independent company. As an independent company, McAfee is one of the world's largest companies with a unique focus on cybersecurity. Built on the belief that “Together is Power”, the new McAfee will expand its market-leading security solutions platform to enable customers to efficiently identify and orchestrate responses to cyber threats.
The launch of McAfee marks the close of a previously announced investment by TPG and Intel Corporation (INTC) to establish a company with a unique focus on cybersecurity with access to significant capital, operations and technology resources. In addition, McAfee announced that Thoma Bravo, a private equity investment firm, has joined the company as a minority investor through an agreement with TPG. As previously announced, Intel retains 49% of the equity interest in the new entity.
With the help of its new investment partners, McAfee will focus more on the customer, develop its platform and target financial, operational and technological investments to better address the significant growth opportunity of the global cybersecurity market. Chris Young, Senior VP and General Manager of Intel, will lead the new McAfee as CEO. Bryan Taylor, partner of TPG, has been named Chairman of the Board.
“Cybersecurity is the biggest challenge of the connected age, a major concern for parents, executives and world leaders,” said Christopher Young, CEO of McAfee. "As an independent company with a clear purpose, McAfee gains the agility to unite people, technology and organizations against our common adversaries and ensure our technological future is secure."
“We fully support Chris Young and the McAfee team as they establish themselves as one of the largest cybersecurity companies in the industry,” said Brian Krzanich, CEO of Intel. “Security remains important to Intel, and in addition to our corporate position and ongoing collaboration with McAfee, Intel will continue to integrate industry-leading privacy and security features into our cloud products across the billions of smart, connected computing devices. ”.
The launch of McAfee marks the close of a previously announced investment by TPG and Intel Corporation (INTC) to establish a company with a unique focus on cybersecurity with access to significant capital, operations and technology resources. In addition, McAfee announced that Thoma Bravo, a private equity investment firm, has joined the company as a minority investor through an agreement with TPG. As previously announced, Intel retains 49% of the equity interest in the new entity.
With the help of its new investment partners, McAfee will focus more on the customer, develop its platform and target financial, operational and technological investments to better address the significant growth opportunity of the global cybersecurity market. Chris Young, Senior VP and General Manager of Intel, will lead the new McAfee as CEO. Bryan Taylor, partner of TPG, has been named Chairman of the Board.
“Cybersecurity is the biggest challenge of the connected age, a major concern for parents, executives and world leaders,” said Christopher Young, CEO of McAfee. "As an independent company with a clear purpose, McAfee gains the agility to unite people, technology and organizations against our common adversaries and ensure our technological future is secure."
“We fully support Chris Young and the McAfee team as they establish themselves as one of the largest cybersecurity companies in the industry,” said Brian Krzanich, CEO of Intel. “Security remains important to Intel, and in addition to our corporate position and ongoing collaboration with McAfee, Intel will continue to integrate industry-leading privacy and security features into our cloud products across the billions of smart, connected computing devices. ”.
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