Former McAfee CTO Christopher Bolin has been named as chief product officer for Absolute Software (TSX:ABT), the Vancouver endpoint security company announced February 19.
Bolin will be charged with developing the company’s global product strategy. The IT security expert spent 10 years at computer security giant McAfee as executive vice-president of worldwide product operations and chief technology officer.
“The information security challenges faced by organizations have never been greater,” Bolin said in a release.
“With its unique patented persistence technology embedded on hundreds of millions of devices from the largest manufacturers in the world, Absolute has the ability to address these challenges unlike any other vendor in the market today.”
Bolin will begin working in his new position in early March.
The news comes a week after Absolute reported a 1000% jump in quarterly net income. The company’s fiscal 2015 Q2 net income was US$2.2 million, compared with US$0.2 million in the same period last year. Year-to-date income was reported at US$2.5 million – up 79% compared with the same period in 2014. The company also reported a 13% increase in the value of sales contracts.
As of press time, shares of Absolute were trading at a 52-week high of $9.89 – an increase of 3.67%.