Exclusive: Three top execs including Mark Banfield suddenly depart LogicMonitor

CRO Mark Banfield, EMEA VP Daniela Streng and CFO Ziad Fanous are all departing the vendor

Three high-ranking execs have suddenly departed from LogicMonitor leaving several MSPs perplexed by the news.

A statement seen by CRN confirms that chief revenue officer Mark Banfield, vice president of EMEA Daniela Streng and CFO Ziad Fanous will all be departing the company.

The decision was reached at an internal meeting on Friday, according to a statement seen by CRN and that Banfield, Streng and Fanous depart the company "on amicable terms".

The statement read that it is not uncommon for there to be leadership changes within a company "entering the next phase of its growth trajectory".

Despite claims that its leadership changes are "not uncommon", multiple MSP bosses told CRN that they were unaware of the changes and were surprised that as many as three senior execs are leaving the vendor at the same time.

"They've kept that close to their chest," one MSP exec told CRN. "It seems very strange to me; we know them really well, so if we haven't heard anything then I'd be surprised if anyone else has."

Banfield joined LogicMonitor in 2018 having previously held senior roles at Autotask and then Datto after the two companies merged in 2017.

Streng, who also held a leadership role at Autotask between 2012 and 2016, joined LogicMonitor in January 2020, according to her LinkedIn profile. Fanous has been with LogicMonitor since December 2018.

In a LinkedIn post last year, Streng claimed that LogicMonitor had grown its EMEA revenues by almost 250 per cent in 2019 and grown its team to 100 staff.

LogicMonitor sells infrastructure monitoring software to both end-user enterprise customers and to MSPs. The Santa Barbara-based firm was bought up by Vista Equity Partners in 2018 and recently acquired UK-based AI vendor Dexta at the end of June.