When private equity giant KKR spent an estimated $2 billion to buy consulting firm Optiv Security in February, it said it hoped to build Optiv into one of the “most valuable security companies to their customers.” But this year, Optiv has repeatedly missed quarterly sales targets as it has struggled with changes in its sales approach and increased competition, former executives say.
Optiv last week took action to improve its performance. Founding executive and top operational leader Tim Hoffman stepped down, giving CEO Dan Burns direct oversight of the business, The Information has learned. Optiv also laid off around 40 people, about 2% of its total workforce.
