FireEye has helped respond to some of the biggest security breaches of the past few years, including at Equifax and Sony. But for the past 18 months, CEO Kevin Mandia has been fighting a different threat, one facing FireEye itself. His progress is likely being watched by rival security firms and big tech companies like Cisco.
One of the hottest names in cybersecurity four years ago, known for technology that spots advanced security threats, FireEye ran into trouble in 2014. Losses ballooned thanks to slowing sales growth and huge increases spending, sending its stock price plunging as much as 85% from its high in early 2014. Mr. Mandia took over as CEO mid-2016 and immediately set about cutting costs and trying to update its product portfolio. While losses have come down, the stock remains depressed.