Palo Alto Networks appoints Mark Goodburn to board, McCarthy to retire

SANTA CLARA, Calif. - Cybersecurity firm Palo Alto Networks (NASDAQ:PANW) announced Wednesday the appointment of Mark Goodburn to its board of directors, while longtime board member Mary Pat McCarthy will retire effective January 23, 2026. The company, with a substantial market capitalization of $135.29 billion, has established itself as a prominent player in the software industry according to InvestingPro data.

Goodburn, who served as Chairman and Global Head of Advisory at KPMG International from 2011 to 2021, will join Palo Alto Networks’ Audit Committee as chair and will also serve on the Security Committee. During his tenure at KPMG, he held various leadership roles including Global Head of Strategic Investments and Innovation.

McCarthy, who has served on the company’s board since 2016, is stepping down for personal reasons. She has relinquished her position as chair of the Audit Committee but will continue to serve on both the Audit and Security committees until her departure.

"Mark is a respected leader with decades of experience in global advisory, technology, and innovation," said Nikesh Arora, chairman and CEO of Palo Alto Networks, in a statement accompanying the press release.

Regarding McCarthy’s departure, Arora acknowledged her nearly decade-long service, noting her "unwavering guidance, wisdom, and stewardship" during her tenure.

Goodburn currently serves on the board of C.H. Robinson Worldwide in addition to his new role at Palo Alto Networks.

The leadership changes come as the cybersecurity company continues to execute its growth strategy in an increasingly competitive market. Palo Alto Networks has demonstrated strong financial performance with $9.22 billion in revenue over the last twelve months and 14.87% revenue growth. The company maintains a moderate debt level with strong cash flows, earning a "GREAT" overall financial health score from InvestingPro. While trading at a high P/E ratio of 125.7, analysts maintain a positive outlook with a consensus "Buy" recommendation. Investors interested in deeper analysis can access the comprehensive Pro Research Report, available for Palo Alto Networks and 1,400+ other US equities through InvestingPro. The company is scheduled to report its next earnings on November 19, 2025.

In other recent news, Palo Alto Networks is set to report its third-quarter earnings, with Morgan Stanley maintaining an Overweight rating and a $228 price target. The firm expressed optimism due to positive channel checks and reseller survey results, indicating strong momentum and solid pipeline development. Additionally, BMO Capital has raised its price target for Palo Alto Networks to $230, citing cybersecurity as a compelling investment area. DA Davidson also increased its price target to $240, maintaining a Buy rating and anticipating strong upcoming results.

In collaboration news, Palo Alto Networks announced a partnership with IBM to launch a Quantum-Safe Readiness solution. This initiative aims to help enterprises prepare for security challenges posed by quantum computing. Furthermore, Palo Alto Networks has integrated its Prisma AIRS security platform with AI agent platforms from companies like Factory and IBM. This integration addresses security concerns related to the growing adoption of AI in enterprises. These developments highlight Palo Alto Networks’ ongoing efforts to expand its security offerings and partnerships.

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