Rapid7, Inc. (NASDAQ: RPD) has recently announced the appointment of three new members to its board of directors, expanding the board to comprise 11 directors. The new board members include Wael Mohamed, Mike Burns, and Kevin Galligan.
Wael Mohamed, the co-founder and managing general partner of Global Forward Capital, brings over 30 years of expertise in cybersecurity, digital transformation, and executive leadership. He has previously served as the CEO of Forescout and held executive positions at Trend Micro Group.
Mike Burns, with over 25 years of senior leadership experience in finance and operations, has been appointed as a new board member. He has served as the Chief Financial Officer of Imperva, Inc., Gigamon, and Volterra Semiconductor, and previously held senior finance roles at Intel Corporation.
Kevin Galligan, a partner and director of research at Jana Partners, joins the board with 18 years of experience in investing and driving shareholder value. He previously worked at Kohlberg Kravis Roberts & Company and the Blackstone Group.
In addition to the new board appointments, Rapid7 has entered into a cooperation agreement with Jana Partners Management, LP, under which Jana Partners will support all of Rapid7’s director nominees at its upcoming annual shareholder meeting.
Rapid7's Chairman and CEO, Corey Thomas, expressed confidence that the new board members will accelerate the company's ability to execute with greater speed, focus, and impact. He noted that the company is well-positioned within the markets to drive sustainable, profitable growth and reinforce its commitment to scaling the business, enhancing operational efficiency, and driving long-term shareholder returns.
The company is being advised by J.P. Morgan as its financial advisor and Simpson Thacher & Bartlett LLP as its legal advisor in connection with the cooperation agreement.
Rapid7, a leader in extended risk and threat detection, is dedicated to creating a safer digital world by making cybersecurity simpler and more accessible. The company's comprehensive security solutions aim to empower security professionals to manage a modern attack surface through leading-edge technology and expertise, helping global customers unite cloud risk management and threat detection to reduce attack surfaces and eliminate threats with speed and precision. The market has reacted to these announcements by moving the company's shares 4.7% to a price of $29.63. For the full picture, make sure to review Rapid7's 8-K report.
