Tenable Holdings announces the passing of CEO Amit Yoran, a pioneer in cybersecurity, effective leadership transition underway.
Quiver AI Summary
Tenable Holdings, Inc. has announced the unexpected passing of its Chairman and CEO, Amit Yoran, who had been fighting cancer. Yoran, a respected leader in the cybersecurity field, played a crucial role in shaping Tenable into a global leader in exposure management, fostering innovation and excellence within the company and the broader cybersecurity community. Following his medical leave in December 2024, Tenable appointed Co-CEOs Steve Vintz and Mark Thurmond to maintain strategic operations while the board conducts a search for a new CEO. The company expects to meet or surpass its financial guidance for the fourth quarter and full year 2024, and it expresses condolences to Yoran's family and recognizes his lasting legacy.
Potential Positives
- The company expects to meet or exceed its financial guidance for Q4 2024 and the full year, indicating strong operational performance.
- During the transition period following the CEO's passing, the company has appointed Co-CEOs to ensure continued strategic execution and stability, which reflects strong governance practices.
- Amit Yoran's leadership significantly transformed Tenable into a global leader in exposure management, demonstrating the company's resilience and adaptability in the cybersecurity sector.
Potential Negatives
- The unexpected passing of the CEO may lead to uncertainty and instability within the company, potentially affecting employee morale and investor confidence.
- The transition to Co-CEOs during a leadership search could disrupt strategic execution and create challenges in decision-making during a critical period.
- The company's reliance on a CEO search may take time, leading to potential delays in implementing strategic initiatives and operational continuity.
FAQ
What happened to Amit Yoran, Tenable's CEO?
Amit Yoran, Chairman and CEO of Tenable, passed away unexpectedly after battling cancer.
Who will lead Tenable after Amit Yoran's passing?
After Amit's passing, Steve Vintz and Mark Thurmond have been appointed as Co-CEOs during the CEO search.
What legacy did Amit Yoran leave at Tenable?
Amit Yoran was a visionary leader who significantly transformed Tenable into a global leader in exposure management.
When did Amit Yoran take medical leave?
Amit Yoran took a medical leave of absence starting December 5, 2024, prior to his passing.
What is Tenable's core business focus?
Tenable specializes in exposure management, helping organizations close cybersecurity gaps to protect business value and reputation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TENB Insider Trading Activity
$TENB insiders have traded $TENB stock on the open market 27 times in the past 6 months. Of those trades, 0 have been purchases and 27 have been sales.
Here’s a breakdown of recent trading of $TENB stock by insiders over the last 6 months:
- MARK C. THURMOND (Chief Operating Officer) has traded it 13 times. They made 0 purchases and 13 sales, selling 24,170 shares.
- AMIT YORAN (President, CEO and Chairman) has traded it 8 times. They made 0 purchases and 8 sales, selling 71,735 shares.
- STEPHEN A VINTZ (Chief Financial Officer) has traded it 6 times. They made 0 purchases and 6 sales, selling 18,875 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TENB Hedge Fund Activity
We have seen 155 institutional investors add shares of $TENB stock to their portfolio, and 131 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AMERIPRISE FINANCIAL INC added 1,968,337 shares (+51.5%) to their portfolio in Q3 2024
- VOYA INVESTMENT MANAGEMENT LLC removed 1,874,205 shares (-69.0%) from their portfolio in Q3 2024
- WESTFIELD CAPITAL MANAGEMENT CO LP removed 890,023 shares (-100.0%) from their portfolio in Q3 2024
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added 844,546 shares (+26.2%) to their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. removed 643,819 shares (-100.0%) from their portfolio in Q3 2024
- READYSTATE ASSET MANAGEMENT LP added 608,582 shares (+inf%) to their portfolio in Q3 2024
- FRED ALGER MANAGEMENT, LLC removed 486,955 shares (-99.9%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
COLUMBIA, Md., Jan. 04, 2025 (GLOBE NEWSWIRE) -- It is with profound sadness that Tenable Holdings, Inc. announces the passing of our Chairman and Chief Executive Officer, Amit Yoran. Amit passed away unexpectedly yesterday. He had been battling cancer.
A visionary leader and a pioneer in the cybersecurity industry, Amit dedicated his life to making the digital world safer. His unwavering commitment to innovation and relentless pursuit of excellence transformed Tenable into a global leader in exposure management. His contributions to the field have left an indelible mark, not only on the company but on the broader cybersecurity community.
“Amit was an extraordinary leader, colleague, and friend,” said Art Coviello, Tenable’s lead independent director. “His passion for cybersecurity, his strategic vision, and his ability to inspire those around him have shaped Tenable’s culture and mission. His legacy will continue to guide us as we move forward.”
Amit Yoran joined Tenable as CEO in 2016, leading the company through significant growth, including its successful initial public offering in 2018. Prior to Tenable, Amit held several prominent positions, including President of RSA and founding CEO of NetWitness, among many other leadership roles in the technology sector.
Amit took a medical leave of absence starting December 5, 2024 at which time the Board appointed Steve Vintz, CFO, and Mark Thurmond, COO, as Co-CEOs to ensure continued strategic execution and stability. The company will continue to operate under their leadership as the Board conducts a CEO search, including both internal and external candidates. Art Coviello will serve as Chairman of the Board.
Based on our preliminary results for the Q4 and the full year, the company expects to meet or exceed the financial guidance we provided in the press release issued on Oct. 30, 2024.
Our thoughts are with Amit’s family during this difficult time. We extend our deepest condolences to his loved ones and express our gratitude for the remarkable legacy he leaves behind. Funeral arrangements have not been announced at this time.
About Tenable
Tenable® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for approximately 44,000 customers around the globe. Learn more at
tenable.com
.
Media Contact:
Brian Alberti
Tenable
tenablepr@tenable.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our results of operations for Q4 and full year 2024 are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” "believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2023 as well as other filings that we make from time to time with the SEC, which are available on the SEC's website at sec.gov. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
