iSheriff, a leading cloud security company, today announced John Mutch as its new Chief Executive Officer (CEO) and a member of its board of directors, effective immediately. As CEO, Mutch is responsible for the future direction of the organization and leading the company's overall operations, with direct oversight of sales, marketing, professional services, research and development (R&D) and corporate strategy.
Mutch has been an operating executive and investor in the technology industry for more than 30 years. His expertise spans many categories of Software, Services, Security and Infrastructure products and as a CEO, he has completed more than 30 technology company acquisitions and created over $4 billion dollars in shareholder value. Most recently, Mutch served as President and CEO of BeyondTrust Software, a privately held security software company focused on the Global 2000.
"Security is the digital foundation of the global economy and is a critical capability for every organization," said Mutch. "iSheriff represents the next generation of Cloud Security-as-a-Service companies, built with the cloud in mind from the start and with a much more comprehensive, integrated and easier to use product design. I am genuinely excited to build a new leader in this emerging and dynamic category."
Prior to BeyondTrust, Mutch was appointed to the Board of Directors of Peregrine Systems by the U.S. Bankruptcy court and helped that company emerge from bankruptcy proceedings. He then served as CEO of Peregrine, successfully restructuring the company, culminating in its sale to HP for $425 million dollars. Previous to Peregrine, he served as CEO of HNC Software, a leading enterprise analytics software provider. After executing the spin out of its Retek subsidiary, valued at $3 billion dollars and distributed to its shareholders in a tax free dividend, HNC was sold to Fair Isaac Corporation in August of 2002 for $825 million. Preceding HNC, Mutch served in executive sales and marketing roles at Microsoft Corporation. He holds an M.B.A. from the University of Chicago and a B.S. from Cornell University, where he served on the advisory board for the undergraduate school of business.
"We are thrilled to have an individual and executive of John Mutch's caliber leading iSheriff," said James Socas, chairman of iSheriff's Board of Directors. "John has the software industry credentials, contacts and vision to build an important security company in a new category."
The world of computing is poised for rapid change, and the security industry will need to change with it. Today, there are an estimated two billion computers and another two billion smartphones that require cyber-security protection. It is estimated that by 2020, 25-30 billion Internet of Things (IoT) devices will also be connected to the Internet, with almost a third of them focused on business-to-business (B2B) use. As these devices become more integrated into daily life and mission critical processes from healthcare to industrial automation, the personal, financial and operational data they carry will be increasingly targeted for attack.
"These new, connected devices face the same security risks as networked PCs and smartphones, but often have not been designed to the same information security standards. This requires a new approach to device security, one that can protect the broad range of connected devices deployed, does not depend on the processing power of the device to provide protection, can manage myriad devices and set their security policies from a single console," continued Mutch. "The security of not only our businesses, but the devices we use on a daily basis is of the utmost importance and I'm very pleased to be joining iSheriff at this critical time in cyber security industry. Clearly, security products that leverage the power of the cloud are best positioned to protect our networks going forward."