Fortinet appoints new financial officer
Dubai, April 23, 2013
Fortinet, a leader in high-performance network security, has appointed Ahmed Rubaie as its chief financial officer and chief operating officer.
Rubaie is a highly accomplished executive with extensive financial, operational and global business management experience, a statement from the company said. He most recently served as executive vice president and chief financial officer of Ariba, a leading cloud-based business-to-business commerce company that was acquired by SAP in October 2012.
Rubaie joined Ariba in August 2008, and played a key role on the management team in building a high-growth and highly-profitable recurring global business. He was engaged in all areas of the business and helped contribute to significant growth and an increase in shareholder value, with Ariba’s equity market capitalisation increasing from approximately $400 million to over $4 billion at the time of the company’s sale.
"Fortinet underwent a diligent and thorough selection process for this important executive management position. It was critical that we identified and hired the right candidate to partner with me as we execute against our strategy to leverage and enhance Fortinet’s position as a leading network security company and to achieve our long-term goal of more than $1 billion in annual sales," said Ken Xie, founder, president and CEO of Fortinet.
"I couldn't be more pleased that we were able to land an executive with Rubaie’s global experience and proven track record of delivering results as a finance and operational leader in technology and multiple other sectors.”
“His accomplishments include driving strong growth and profitability, in addition to scaling large global organisations. He also brings a very strong passion, leadership experience and integrity to his work, which makes him an ideal fit for Fortinet," Xie said.
Prior to Ariba, Rubaie spent nearly eight years at Avery Dennison, a manufacturer of pressure sensitive materials, where he held various senior finance positions, the last one being a global division CFO where he was involved in all aspects of the multi-billion dollar business.
He also spent nearly six years in various global finance leadership roles at BHP Billiton, a large natural resource company.
Prior to his corporate experience, he spent six years in public accounting with both Coopers & Lybrand and Deloitte & Touche.
"I am very excited to be joining Fortinet at a pivotal point in the company's growth journey," said Rubaie. "Fortinet has established a strong leadership position in the network security market, and it has a proven track record of success and differentiated innovation.”
“I believe there is a tremendous opportunity for me to leverage my financial and operational executive leadership experience to help the company deliver world-class execution and achieve its short and long-term growth targets." – TradeArabia News Service