Cybersecurity corporation, Palo Alto Networks, has named past SoftBank Group Corp president, Nikesh Arora, as CEO and chairman. The 50-something officials succeed Mark McLaughlin, who has driven the organization for almost seven years and has assumed a noteworthy part in its torrid pace of development. Under McLaughlin, the organization’s offers have hopped five-crease since its first sale of stock (IPO) in 2012.
“Over the course of several quarters, I have been discussing succession planning with the Board and I couldn’t be more pleased that we have found a leader in Nikesh,” said McLaughlin, who will become the vice chairman of Palo Alto board.
Nikesh Arora is putting down a $20 million wager of his capital on his performance of the job. The approaching CEO of Palo Alto Networks, the world’s greatest pure play cybersecurity organization by market capitalization, reveals to Fortune that he is acquiring a large number of shares with a specific end goal to demonstrate his duty to the new activity, which he is set to begin on June sixth . “It’s sort of like put your money where your mouth is,” he says.
Over stock options, the previous top Google and Softbank executive’s compensation incorporates a yearly base pay of $1 million, as the organization uncovered in a documenting to the Securities and Exchange Commission in front of an earnings call Monday morning.
Asheem Chandna, a member of Palo Alto Networks’ board of directors, says, “We wanted to make sure that Nikesh, as the new leader of the company, has strong skin in the game. And we wanted to make sure Nikesh is rewarded if he creates multiples of value for shareholders.”
Arora joined Google in 2004 and held numerous senior operating influential positions at Google until 2014 when he ventured down from the post of Senior Vice President and Chief Business Officer. He was Google’s most generously compensated official around then. From that point, Arora joined SoftBank in September 2014 to assume the responsibility of its overseas tasks. Arora has additionally been credited with making SoftBank more restrained about investment exits. He ventured down from SoftBank in 2016 after contrasts amongst him and SoftBank CEO Masayoshi Son over when he would supplant Son as head of the group.