WatchGuard CEO Prakash Panjwani steps down as Vats Srivatsan named interim

WatchGuard Technologies has confirmed that Chief Executive Officer Prakash Panjwani will step down from day-to-day operations while continuing with the company as a member of the Board and strategic advisor.

Vats Srivatsan, who has previously held roles with SentinelOne, Google Cloud, and Palo Alto Networks, has been appointed as Interim CEO and will also join the company's Board of Directors. Srivatsan's appointment is effective from May 14, 2025, as the company embarks on a public search for the next permanent CEO.

As Interim CEO, Srivatsan is expected to work closely with WatchGuard's established executive team. Together, they will seek to maintain strategic focus on the company's stated aims of simplifying cybersecurity for managed service providers (MSPs), scaling its platform, strengthening partner engagement, and advancing managed services, endpoint protection, and hybrid network security.

Prakash Panjwani concludes a ten-year tenure in which WatchGuard experienced significant growth and transformation, including the completion of six strategic acquisitions. These acquisitions broadened WatchGuard's capabilities across endpoint protection, identity, and managed detection and response. Under Panjwani's leadership, WatchGuard saw its annual recurring revenue more than triple, the partner ecosystem expand from thousands to tens of thousands, and its global employee headcount increase threefold.

Alex Slusky, Founding Partner and Managing Director of Vector Capital, WatchGuard's majority owner, commented, "Prakash's leadership over the past decade has been instrumental in transforming WatchGuard into a leading cybersecurity platform company. Few leaders leave the kind of legacy he has ‒ shaping not only the company's strategy, but also producing consistent strong performance and operational excellence. We are pleased to have him continue as a board member and are deeply grateful for his vision, discipline, and unwavering commitment to WatchGuard's partners, customers, and employees."

Panjwani reflected on his time at WatchGuard, saying, "Leading WatchGuard has been the most rewarding experience of my professional career. Together with our exceptional employees and committed partners, we've built something truly special ‒ a company that delivers real security for the real world. I'm incredibly proud of the work we've done, and I'm excited to continue supporting the team as a board member and strategic advisor."

Vats Srivatsan brings more than 30 years of experience in leadership, growth, transformation, and technological integration across cybersecurity, cloud services, and enterprise technology. His previous role as Operating Partner at Vector Capital and time at SentinelOne, Palo Alto Networks, and Google Cloud are cited as aligning with WatchGuard's long-term strategy and its focus on MSPs.

Sandy Gill, Managing Director at Vector Capital, said, "Vats brings a rare combination of strategic thinking, operational excellence, and deep industry insight. He's led transformative growth at some of the world's most respected technology and cybersecurity companies, and we're confident he will help WatchGuard continue executing on its vision. Backed by a seasoned executive team, the company is well-positioned to maintain strong momentum, with innovation, platform development, and partner enablement remaining top priorities."

Srivatsan's career has included pivotal roles in transforming established technology providers. His tenure at Palo Alto Networks involved overseeing 10 acquisitions in under three years, and at Google Cloud, he scaled the global commercial business and founded the Advanced Solutions Lab focusing on artificial intelligence and machine learning applications.

Srivatsan stated, "I'm honoured and excited to join WatchGuard as Interim CEO and Board member. I believe WatchGuard's MSP-focused platform, strong culture, and deep channel partnerships uniquely position the company to protect businesses around the world. I look forward to working with the entire WatchGuard team and our partner ecosystem to execute on our mission of simplifying cybersecurity and making it accessible to every organisation."

WatchGuard is continuing to focus its strategy at the intersection of core cybersecurity services and the global MSP sector. The organisation remains committed to delivering what it describes as powerful security solutions tailored to the real-world requirements of MSPs, backed by its established leadership team and partner ecosystem.