LifeLock Appoints Douglas Jeffries Chief Administrative Officer
07 März 2016 - 10:42PM
Business Wire
Jeffries to Assume Chief Financial Officer
Duties after 2016 Q2 Earnings Release
LifeLock, Inc. (NYSE: LOCK), an industry leader in identity
theft protection, today announced that Douglas Jeffries has been
named chief administrative officer, effective immediately. Jeffries
will initially oversee business development, infrastructure, and
risk management and will report to LifeLock’s chief executive
officer, Hilary Schneider.
In addition, Chris Power, the company's chief financial officer,
has announced his intention to transition out of his current role
after the second quarter earnings release. At that time, Jeffries
will succeed Power as chief financial officer, and Power will
continue to serve in an advisory capacity with the company to
ensure a smooth transition. LifeLock also affirmed its first
quarter and full-year guidance for 2016, which it issued on
February 10, 2016 with its 2015 earnings results.
Jeffries has more than 25 years of senior leadership experience
in finance and operations, the last 15 in the technology industry.
He has served as chief financial officer at RetailMeNot, Taleo Corp
and Palm, Inc, and vice president of finance and chief accounting
officer of eBay. Most recently, he served as executive vice
president and chief financial officer of Xero.
“We thank Chris for his significant contributions to LifeLock
over the past five years, including successfully taking the company
public in 2012,” said Schneider. “Chris has been a vital member of
our leadership team during an important period in our history,
demonstrating financial leadership that was critical to the
company’s success. We appreciate his help in ensuring a smooth and
orderly transition.”
Power added, “Now that we have successfully finalized our CEO
succession, this is a natural time for this transition. I’m proud
to have been a part of building such a great company and grateful
for the opportunity to build the strong team that will continue to
guide LifeLock to continued success.”
"This is a tremendous opportunity,” said Jeffries. “LifeLock is
the leader in an industry that continues to grow and will only
become more important as the threats to our identities evolve and
proliferate. I look forward to working with Hilary and the rest of
her talented team to ensure that the company is best positioned to
capitalize on opportunities to innovate and differentiate its
services going forward.”
Before joining the technology industry in 1996, Jeffries held
senior finance and information technology leadership roles in the
health care industry. He began his career at Price Waterhouse
Coopers, where he worked from 1979 to 1990 in the firm’s
Sacramento, New York and San Francisco offices.
Jeffries holds a B.S. in Accounting from California State
University-Chico and an MBA from the University of Southern
California.
About LifeLock
LifeLock, Inc. (NYSE: LOCK) is a leading provider of proactive
identity theft protection services for consumers and consumer risk
management services for enterprises. LifeLock’s threat detection,
proactive identity alerts, and comprehensive remediation services
help provide peace of mind for consumers amid the growing threat of
identity theft. Leveraging unique data, science and patented
technology from ID Analytics, Inc., a wholly owned subsidiary,
LifeLock offers identity theft protection that goes significantly
beyond credit monitoring. As part of its commitment to help fight
identity theft, LifeLock works to train law enforcement and
partners with a variety of non-profit organizations to help
consumers establish positive habits to combat this threat.
Forward-Looking Statements
This press release contains “forward-looking” statements, as
that term is defined under the federal securities laws, including
statements regarding organizational changes, along with its impact
on the future performance of our business, as well as our expected
total revenue, profitability, long-term growth prospects, business
performance expectations, adjusted net income per diluted share,
adjusted EBITDA, and free cash flow for the first quarter of 2016
and for fiscal year 2016. These forward-looking statements are
based on our current assumptions, expectations, and beliefs and are
subject to substantial risks, uncertainties, assumptions, and
changes in circumstances that may cause our actual results,
performance, or achievements to differ materially from those
expressed or implied in any forward-looking statement.
The risks and uncertainties referred to above include, but are
not limited to, continuation of the trends in our business and our
ability to execute on our business plans; risks associated with our
ability to generate revenue, control costs and maintain
profitability; variability in our cash flows; risks associated with
our business, including our ability to protect our customers’
confidential information; our ability to maintain and enhance our
brand recognition and reputation; the competitive nature of the
industries in which we conduct our business; our ability to retain
our existing customers and attract new customers; our ability to
improve our services and develop and introduce new services with
broad appeal; and our ability to maintain existing and secure new
relationships with strategic partners. Further information on these
and other factors that could affect the forward-looking statements
in this press release is included in our SEC filings, including our
Annual Report on Form 10-K for the year ended December 31, 2015,
particularly under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations”. Copies of these documents are available on our
Investor Relations website at http://investor.lifelock.com/ or the
SEC's website at www.sec.gov.
We assume no obligation and do not intend to update these
forward-looking statements, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160307006527/en/
LifeLock, Inc.Media Contact:Kelley Bonsall,
480-457-2170Media@lifelock.comorInvestor Relations Contact:Jamison
Manwaring, 480-457-5000VP, Investor
RelationsInvestor.relations@lifelock.com
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