Palo Alto Networks Appoints Amit Singh As President, Reaffirms Q1 Outlook

(RTTNews) - Palo Alto Networks (PANW) Monday said it has appointed former Google executive Amit Singh as president, effective November 1, 2018.

Singh succeeds Mark Anderson, who will move into an advisory role until May 1, 2019, to facilitate a smooth transition of responsibilities. Singh will report to Nikesh Arora, Palo Alto Networks CEO.

Previously, Singh was the president of Google Cloud and, most recently, Google's vice president of business and operations in emerging computing platforms.

"I'm pleased to welcome Amit to Palo Alto Networks," said Nikesh Arora, CEO of Palo Alto Networks. "I have been continually impressed by Amit's leadership and believe his experience growing cloud businesses and driving revenue at scale will help us strengthen our position as the clear leader in cybersecurity."

For the first quarter, Palo Alto Networks continues expect total revenues of $625 to $635 million and adjusted earnings of $1.04 to $1.06 per share.

PANW closed Monday's trading at $209.20, down $2.75 or 1.30%, on the Nasdaq. The stock further slipped $6.87 or 3.28% in the after-hours trading.