secwatch / observer
8-K filed February 7, 2023, 6:59 PM ET CIK 0001468666
other material confidence high sentiment negative materiality 0.70

SecureWorks Corp: restructuring charge — SecureWorks to cut ~9% workforce, CFO retiring; new President named

SecureWorks Corp

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Wendy K. Thomas

President
SecureWorks Corp
Effective
2023-02-06
Successor
Steve Fulton
Filed
February 7, 2023, 6:59 PM ET
Wendy K. Thomas will remain in the role of Chief Executive Officer and relinquish the role of President.
Appointed

Steve Fulton

President, Customer Success
SecureWorks Corp
Effective
2023-02-06
Filed
February 7, 2023, 6:59 PM ET
On February 6, 2023, the Board of Directors appointed Steve Fulton, formerly the Company’s Chief Product Officer, as the Company’s President, Customer Success, effective as of February 6, 2023.
Departed

Paul M. Parrish

Chief Financial Officer
SecureWorks Corp
Effective
2023-05-05
Filed
February 7, 2023, 6:59 PM ET
On February 3, 2023, Paul M. Parrish, Chief Financial Officer of the Company, notified the Company of his decision to retire as Chief Financial Officer, in which position he served as the Company’s principal financial officer, effective as of May 5, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Wendy K. Thomas changed role as President at SecureWorks Corp.

Action
relinquish
Role
President
Exact text from the filing
Wendy K. Thomas will remain in the role of Chief Executive Officer and relinquish the role of President.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Fulton was appointed as President, Customer Success at SecureWorks Corp.

Action
appointed
Role
President, Customer Success
Exact text from the filing
On February 6, 2023, the Board of Directors appointed Steve Fulton, formerly the Company’s Chief Product Officer, as the Company’s President, Customer Success, effective as of February 6, 2023.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Paul M. Parrish departed as Chief Financial Officer at SecureWorks Corp.

Action
retire
Role
Chief Financial Officer
Exact text from the filing
On February 3, 2023, Paul M. Parrish, Chief Financial Officer of the Company, notified the Company of his decision to retire as Chief Financial Officer, in which position he served as the Company’s principal financial officer, effective as of May 5, 2023
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

SecureWorks Corp announced a restructuring with charges of approximately $16.0 million affecting workforce and real estate (approximately 9%).

Type
restructuring
Charge
approximately $16.0 million
Affected area
workforce and real estate
Headcount
approximately 9%
Exact text from the filing
other priorities, in order to balance continued growth with improving operating margins over time. The Company currently estimates that it will incur expenses of approximately $16.0 million, consisting primarily of severance and other termination benefits, as well as real estate-related expenses. The substantial majority of these expenses will result in cash
View on SEC.gov

Browse all restructurings & charges →

Source: SEC EDGAR
accession 0001468666-23-000004
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