ForeScout quietly changes CEOs
Gord Boyce departs as former boss Kent Elliott restored to top job
Network access control (NAC) vendor ForeScout has discreetly undergone a change in leadership, restoring former boss Kent Elliott as chief executive.
The private equity-backed firm confirmed to CRN that as of 1 July, Gord Boyce has stepped down as CEO and has been replaced on an interim basis by Elliott.
Elliott was CEO of ForeScout between 2003 and 2009 but relinquished the reins to Boyce in 2010, staying on as executive vice chairman.
ForeScout appears to have made no formal announcement about the move, although Elliott has been quietly re-instated as CEO on its leadership page.
"This is a very exciting time for ForeScout as we continue to see increasing demand for our products and services. Accordingly, we are expanding our geographic and operational capacity to meet this demand," the firm said in a statement to CRN.
"As we prepare for this next stage of growth, ForeScout's board of directors decided to make a change in leadership in order to fully capitalise on the opportunities before us."
A report in an Israeli newspaper last December, cited in English here, suggested ForeScout was planning to IPO "within six months", with the goal of raising $100m (£58m).
Seven months have now elapsed, and one industry onlooker we spoke to suggested the IPO plans may have been put back until 2015 after receiving a lukewarm reception from the financial community.
ForeScout would not comment on the IPO "rumours".
"We appreciate the significant contributions that Gord Boyce has made during his tenure as CEO," said Hezy Yeshurun, ForeScout chairman and co-founder. "We continue to build upon strong relationships with our existing customers and partners while taking advantage of new global opportunities to grow our business."
Since its inception in Tel Aviv in 2000, ForeScout has built up a base of 1,500 enterprise customers in 54 countries. Alongside Cisco and Aruba, it is one of only three "leaders" in Gartner's latest NAC Magic Quadrant.