CynergisTek, Inc. Announces Retirement of Founder & Thought Leader Mac McMillan & Appoints His Successor Caleb Barlow as Pres...
15 Juillet 2019 - 10:15PM
Business Wire
CynergisTek, Inc. (NYSE AMERICAN: CTEK), today announced the
appointment of Caleb Barlow to the positions of President and Chief
Executive Officer, to succeed retiring founder and current
President and CEO Mac McMillan effective August 1, 2019. McMillan
will support Barlow in the execution of CynergisTek’s strategy
through the remainder of 2019 and will remain a member of the Board
of Directors going forward.
“Mr. McMillan’s vision, thought leadership and focused
commitment to the healthcare industry grew CynergisTek into the
leading healthcare focused cybersecurity, privacy and compliance
services company in the U.S. He drove dramatic and consistent year
over year growth and made a significant impact to the healthcare
industry as a whole,” said JD Abouchar, Chairman of the Board. “I
want to thank him for his dynamic leadership and look forward to
his continued support as a member of our Board.”
“I want to congratulate Caleb on his appointment and look
forward to working with him during the transition,” said McMillan.
“Caleb has an impressive track record that speaks for itself and
positions us well to execute on the growth strategies we put in
place over the last couple of years. My time spent with Caleb gives
me comfort that our customers will continue to experience the same
quality of service they have been accustomed to over the years. I
am very confident that his experience will allow him to build on
the success that is CynergisTek today and take it to new heights
tomorrow.”
“It has been an honor building this company, and serving our
employees has been one of the great joys of my career. Handing the
reins to someone like Caleb is very reassuring,” said McMillan. “He
represents the best of what we have in the industry today and the
kind of energy and drive in leadership CynergisTek needs to be
successful in the future. I am very grateful to the men and women
of CynergisTek, and to our many stakeholders. I am incredibly proud
and humbled by what this team has accomplished as a business and
the contributions we’ve made to healthcare. I look forward to
seeing our employees develop under Caleb’s leadership as I continue
to support the company in my role as a director.”
“Caleb is recognized as one of the leading industry experts on
cybersecurity and is the perfect candidate to lead CynergisTek
through the next stages of growth that includes expanding our
cybersecurity, privacy and compliance services portfolio, and
diversifying into new industries organically and through potential
acquisitions. He has demonstrated his ability to build and grow
cybersecurity businesses, lead innovative change and provide
services and solutions that place a clear focus on customers,” said
Abouchar. “Caleb has his finger on the pulse when it comes to
understanding where cybersecurity has been and where it needs to
go. Mac and the Board carefully and deliberately approached
succession planning and Caleb’s appointment represents the strength
and discipline of that process.”
Barlow is a globally recognized security professional and
recently served as Vice President of Threat Intelligence for IBM
Security where he built IBM’s X-Force Incident Response and
Intelligence Service. He brings years of experience building
security teams and defining the best practices for organizations to
maintain resiliency during a security breach. Believing that a
rapid, well planned and regularly rehearsed response to a cyber
incident can be the difference between success and failure, Barlow
established the industry’s first immersive cyber range, the first
mobile cyber operations center and a comprehensive incident command
system for responding to major cyber incidents.
Barlow has a broad background, which he will bring to the
CynergisTek team, having led teams in product development, product
management, strategy, marketing, service delivery and acquisition
integration. He has a history of successfully leading growth
organizations and is a sought-after expert on information security
with appearances that include the TED stage, the “Today” show and
regular appearances on national news and dozens of publications.
Caleb has testified before the U.S. Congress and the United Nations
by invitation of the President of the U.N. General Assembly.
“I am honored and humbled to be given the opportunity to lead
the CynergisTek team,” said Barlow. “CynergisTek has built an
incredible brand, particularly in healthcare, and I see nothing but
opportunity for growth. Once again, a pure play cyber security
company, CynergisTek is positioned to take maximum advantage of the
opportunities ahead and I am excited about what we can
accomplish.
“I want to extend my congratulations to Mac on his career and
his leadership both here at CynergisTek and in the industry as a
whole. I look forward to working with Mac and having his support on
the Board.”
In connection with his appointment, the Company and Barlow
entered into a three-year employment agreement, as well as a stock
option grant agreement whereby Barlow was granted an option to
purchase up to 500,000 shares of CynergisTek’s common stock, which
vests over a three-year period. The stock option grant was made
outside of the Company's 2011 Stock Incentive Plan and approved by
the Compensation Committee of the Company's Board of Directors.
CynergisTek will provide additional information regarding Barlow’s
appointment in a Current Report on Form 8-K to be filed with the
Securities and Exchange Commission.
About CynergisTek, Inc.
CynergisTek is a top-ranked cybersecurity firm dedicated to
serving the information assurance needs of the healthcare industry.
CynergisTek offers specialized services and solutions to help
organizations achieve privacy, security, and compliance goals.
Since 2004, the company has served as a partner to hundreds of
healthcare organizations and is dedicated to supporting and
educating the industry by contributing to relevant industry
associations. The company has been recognized by KLAS in the 2016
and 2018 Cybersecurity reports as a top performing firm in
healthcare cybersecurity, as well as the 2017 Best in KLAS winner
for Cybersecurity Advisory Services.
Forward-Looking Statements
This release contains certain forward-looking statements
relating to the business of CynergisTek that can be identified by
the use of forward-looking terminology such as “believes,”
“expects,” “anticipates,” “may” or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including uncertainties relating to product/service
development, long and uncertain sales cycles, the ability to obtain
or maintain patent or other proprietary intellectual property
protection, market acceptance, future capital requirements,
competition from other providers, the ability of our vendors to
continue supplying the company with equipment, parts, supplies and
services at comparable terms and prices and other factors that may
cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Certain of these risks and uncertainties are or will be described
in greater detail in our Form 10-K and Form 10-Q filings with the
Securities and Exchange Commission, which are available at
http://www.sec.gov. CynergisTek is under no obligation (and
expressly disclaims any such obligation) to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190715005762/en/
Investor Relations Contact: CynergisTek, Inc. Bryan Flynn
(512) 402-8550 x8 InvestorRelations@cynergistek.com
Media Contact: Aria Marketing Danielle Johns (617)
332-9999 x241 djohns@ariamarketing.com
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