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Fortinet Appoints Brett T. White as Chief Financial OfficerSUNNYVALE, Calif., Nov 14, 2005 - Fortinet - the pioneer and market leader of Unified Threat Management and only provider of ASIC-accelerated, network-based multi-threat security systems for real-time network protection - today announced that Brett T. White has joined its management team as Chief Financial Officer (CFO). Mr. White will be responsible for all financial functions within the company, in addition to working with other executives to increase Fortinet's growth, profitability and competitive position in the market. Additionally, Mr. White will be tasked with driving financial management, processes and controls, including continuing efforts to bring Fortinet in compliance with the Sarbanes-Oxley Act, a requirement for becoming a publicly-traded company. "Following an extensive search that yielded many qualified candidates, I am pleased to welcome Brett to our team and look forward to working closely with him on guiding the strategy and direction of Fortinet," said Ken Xie, Fortinet founder, president and CEO. "Brett has successfully managed global, efficient and financially compliant high-growth organizations and brings the right mix of energy and experience to help lead Fortinet to continued growth and the next stage of success." Mr. White's distinguished 20-year career has been focused on leading financial operations for growth-oriented global technology companies. Mr. White most recently was EVP and CFO for Corio Inc, an enterprise applications services company. During his tenure at Corio, the company's stock price grew by 355%, culminating in an acquisition by IBM in March of this year. Mr. White was responsible for a variety of finance and administration achievements at Corio, including implementing a formal investor relations program and upgrading of the company's financial controls, which led to the achievement of Sarbanes-Oxley certification. Mr. White's career background also includes nearly 10 years at Oracle, where he served as vice president of finance over a $3 billion business unit, as well as in various international finance roles. Additionally, Mr. White was CFO of KANA Software and held executive management positions at marchFIRST. "Fortinet is the market leader of one of the fastest-growing segments in the network security market and is led by a management team with a solid track record of success in building leading companies," Mr. White said. "I am excited to join the Fortinet team and look forward to helping drive the next stage of growth for this exceptional and accomplished company."
About Fortinet (www.fortinet.com)
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QUICK FACTS
Year Founded
2000Stock Symbol
NASDAQ: FTNTHeadquarters
Sunnyvale, CaliforniaNumber of Employees
1,200+Financial Highlights
FY09 Revenue: $252M$260M+ cash and no debt Profitable First Product Release
May 2002Units Shipped to Date
500,000+Customers
75,000+ customersMarket Leadership
Top 4 Largest Network Security Appliance VendorPatents
40 patents100+ patents pending Industry Accolades
80+ awards, including:Security Product of the Year Best Integrated Security Appliance Best IPS solution Top Mid-market Solution 2006 Technology Pioneer 7 ICSA security certifications NSS certified (UTM) ISO 9001 certified Corporate and Securities Counsel
Wilson SonsiniGoodrich & Rosati Palo Alto, California Auditors
Deloitte Touche TohmatsuSan Jose, California As a provider of comprehensive IT solutions for global enterprise customers, HP Network Services certainly sees the need for unified security and application acceleration solutions to improve network security, performance and total cost of ownership. We've already had a successful partnership with Riverbed and Fortinet in delivering these services to customers in EMEA and look forward to expanding our relationship to other parts of the world. |