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Palo Alto Networks Hires Nikesh Arora as CEO and Chairman

June 4, 2018

Palo Alto Networks has named Nikesh Arora as its new chief executive officer and chairman of the Board of Directors, effective June 6, 2018. He succeeds Mark McLaughlin, who is transitioning to the role of vice chairman of the Board for Palo Alto Networks.

Arora formerly served as president and chief operating officer at SoftBank and as chief business officer at Google. At Google, Arora was instrumental in growing Google's search business from $2 billion in revenues to over $60 billion in revenues, led more than 20,000 employees, and developed a substantial track record of driving innovation and delivering business success. Arora has extensive experience in scaling technology businesses, running very large organizations, and operating globally.

McLaughlin said: "The company is executing extremely well and is the clear leader in next-generation security. 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 who is ideally suited to take the company on the next leg of its journey. I look forward to working with Nikesh as we transition and serving as vice chairman of the Board."

Daniel J. Warmenhoven, lead independent director said: "Mark has been an outstanding leader whose strong leadership was critical to building the company into the fastest-growing enterprise cybersecurity company in the world and we are grateful for his contributions. As we move forward in this era of digital and security transformation, there is no better person to lead Palo Alto Networks than Nikesh Arora. The Board of Directors is very pleased to have such a proven business and technology leader who brings demonstrated leadership and ability to scale to the company."

Added Arora: "I am thrilled and honored to join Palo Alto Networks. I have developed a deep appreciation for the company's culture, values and pioneering spirit as innovators and disruptors and I look forward to working with the entire Palo Alto Networks team on our mission of protecting our customers in the digital age."

The company also announced the following strong fiscal third quarter 2018 results, and will hold its earnings call before the market opens on Monday, June 4th.

In the fiscal third quarter, total revenue grew 31 percent year over year to $567.1 million, product revenue grew 31 percent year over year to $215.2 million, and billings grew 33 percent year over year to $721.0 million.

Kathy Bonanno, chief financial officer commented: "We had a strong fiscal third quarter 2018 and will be reporting top line and bottom line results above all our third quarter guided ranges."

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