Symantec Announces Appointment of Michael Fey as President and Chief Operating Officer Upon Closing of Blue Coat Acquisition

PRESS RELEASE

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Symantec Corp. (NASDAQ:SYMC) today announced that Michael Fey will join Symantec as President and Chief Operating Officer upon closing of the previously announced acquisition of Blue Coat, Inc. He will report to Greg Clark, Symantec CEO-designate.

“Mike, like Greg, has a proven ability to accelerate turnarounds and ignite significant revenue growth inside organizations,” said Dan Schulman, Chairman of the Symantec Board of Directors. “His initial focus will be on merging the go-to-market functions of the combined companies to take advantage of the tremendous cross-sell and upsell opportunity formed by the powerful combination of these two market leaders.”

“Mike is a security industry visionary with significant experience in sales and operations and deep knowledge of the endpoint market. He played an integral role in driving Blue Coat forward, including defining our open platform strategy and leading our technology alliance partnership, and I am delighted that he will join Symantec as President and COO,” said Greg Clark, Symantec CEO-designate. “Mike has a proven track record of driving and maintaining profitable growth while achieving operational excellence at scale. This, along with his substantial go-to-market expertise, will be instrumental as we complete the Symantec-Blue Coat transaction. Mike has been deeply involved in the integration planning and will continue to work closely with planning teams from both companies to ensure a thoughtful and seamless transition.”

Mr. Fey is an accomplished enterprise security executive with a highly technical background and more than a decade of cybersecurity experience. As President and COO of Blue Coat, he has focused on aligning the company's leading web security, encrypted traffic management, cloud security, and advanced threat protection solutions with customer requirements, and was responsible for all aspects of sales, marketing, support, services and product management. Prior to joining Blue Coat, Mr. Fey served as CTO of Intel Security and General Manager of McAfee Corporate Products, where he drove its long-term enterprise strategic vision and innovation in the endpoint, network and security analytics segments.

“The joining of these two companies is unprecedented in the cybersecurity industry, and I couldn’t be more energized by this amazing opportunity,” said Mr. Fey, currently President and COO of Blue Coat. “By combining Symantec’s leading threat telemetry with Blue Coat’s network and cloud security, we will provide customers with unrivaled threat protection and unmatched cloud security. The scale and portfolio of the combined companies will best protect customers’ users, endpoints, emails, servers and data, both on premises and in the cloud. I look forward to collaborating with the exceptionally talented people at both Symantec and Blue Coat as we set the pace for innovation industrywide.”

The companies expect an efficient and successful integration given their complementary product offerings and distinct customer footprints, as well as Blue Coat’s management team’s track record of integration. As part of integration planning, Symantec and Blue Coat leaders are working on identifying the combined company’s complete executive team post-close.

About Michael Fey

Michael Fey joined Blue Coat in 2014 as President and Chief Operating Officer. Prior to joining Blue Coat, Mr. Fey served as executive vice president, chief technology officer, and general manager of corporate products for Intel Security. In this role, he drove the company's strategic vision and security innovation. Mr. Fey also managed business operations and strategy for all corporate product business units at McAfee, part of Intel Security. Previously, he was senior vice president of advanced technologies and field engineering at McAfee, where he oversaw corporate acquisitions and engaged with global customer executives and prospects to develop, build, and implement strategic security solutions. An industry veteran, Mr. Fey has held leadership positions with Opsware, Mercury Interactive, and Lockheed-Martin. Mr. Fey graduated magna cum laude with a Bachelor of Science in Engineering Physics from Embry-Riddle Aeronautical University.

About Symantec

Symantec Corporation (NASDAQ: SYMC) is the global leader in cybersecurity. Operating one of the world’s largest cyber intelligence networks, we see more threats, and protect more customers from the next generation of attacks. We help companies, governments and individuals secure their most important data wherever it lives.

Forward-Looking Statements

This press release contains statements which may be considered forward-looking within the meaning of the U.S. federal securities laws, including statements regarding the acquisition of Blue Coat, Inc. and the appointment of Michael Fey as President and COO, the time frame in which this will occur, and the expected benefits to Symantec, its customers, stockholders and investors from completing the acquisition, including expected growth, earnings accretion and cost savings. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include those related to: required regulatory approvals and the satisfaction of other closing conditions, the potential impact on the businesses of Blue Coat and Symantec due to uncertainties regarding the acquisition; the retention of employees of Blue Coat and the ability of Symantec to successfully integrate Blue Coat and to achieve expected benefits; general economic conditions; fluctuations and volatility in Symantec’s stock price; the ability of Symantec to successfully execute strategic plans; maintaining customer and partner relationships; fluctuations in tax rates and currency exchange rates; the timing and market acceptance of new product releases and upgrades; and the successful development of new products, and the degree to which these products and businesses gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Symantec assumes no obligation, and do not intend, to update these forward-looking statements as a result of future events or developments. Additional information concerning these and other risks factors is contained in the Risk Factors section of Symantec’s Form 10-K for the year ended April 1, 2016.

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