Latest news with #VincentPilette
Associated Press
27-05-2025
- Business
- Associated Press
He Was Offered a 15-Year Path to the C-Suite. So He Walked.
Our CEO, Vincent Pilette, shared his personal story with Fortune, and it's not your typical path to the top. He explains that titles never defined him. Impact did. That mindset led him to Gen and where he is today. Read more about his honest look at how being bold can open unexpected doors, and how not all career paths are linear: Visit 3BL Media to see more multimedia and stories from Gen Digital Inc.
Yahoo
13-05-2025
- Business
- Yahoo
This CEO said no to a 15-year wait for his dream job. He took the fast track instead: ‘I don't have that much time'
The path to the C-suite often follows a familiar blueprint. For Gen Digital CEO Vincent Pilette, it was anything but. Pilette says he never had CEO aspirations, much preferring the role of CFO. So he did what few would: Early in his career as a financial analyst at a Fortune 500 IT company, he told the company's then-CFO he wanted her job, he says. But when she outlined a rigid 15-year succession plan, he walked. 'I don't have that much time,' he told Fortune. Though he'd only overseen a sliver of financial operations at the time—far from the typical CFO résumé stacked with experience across accounting, FP&A, and M&A—he began pursuing finance chief roles at smaller public companies. Titles never defined him, he says. Impact did. After 'hundreds of nos,' including an initial rejection from Electronics for Imaging, he eventually landed the CFO seat there in 2011. Two years later, he joined Logitech, where working under CEO Bracken Darrell reshaped his view of financial leadership as a blend of fiscal discipline and operational execution to drive growth. Pilette, whose work at Logitech blended both financial responsibilities and internal operations, began to embrace the CFO role not only as a financial steward but as a catalyst for value creation and operational change, he says. Then came the unexpected. Recruited to join cyber security company Symantec as CFO in 2019, Pilette says he arrived on the very day the CEO was fired. What followed was a crash course in crisis leadership. He led the split and sale of half the business the same year, with the remainder branded as NortonLifeLock. Months later, in a twist of executive musical chairs, he was tapped as CEO. Under Pilette's leadership, NortonLifeLock merged with Avast in 2022 to form Gen Digital, a cyber security giant now serving nearly 500 million users. With a market cap north of $17 billion, Gen Digital recently acquired fintech firm MoneyLion to broaden its consumer security offerings. And it landed at No. 840 on the 2024 Fortune 1000. Pilette says his unconventional climb is proof there's no single route to the top. 'Too many people feel there is one recipe,' he says. 'But there isn't.' He became a CFO without the usual credentials. He then became a CEO without chasing the title, driven instead by curiosity, discipline, and a relentless focus on value, he says. His path suggests that sometimes, the fastest way up is the willingness to first go sideways. Lily Mae This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-04-2025
- Business
- Yahoo
Gen Completes Acquisition of MoneyLion, Accelerating the Company's Leadership in Financial Wellness
TEMPE, Ariz. and PRAGUE, April 17, 2025 /PRNewswire/ -- Gen Digital Inc. (NASDAQ: GEN), a global leader dedicated to powering Digital Freedom through its family of consumer brands, today announced the successful closing of its acquisition of MoneyLion Inc. This strategic milestone strengthens Gen's leadership in financial wellness, empowering consumers to confidently manage and protect their digital and financial lives. "We're thrilled to welcome MoneyLion to the Gen family. The addition of MoneyLion accelerates our position to redefine financial empowerment in a digital-first world," said Vincent Pilette, CEO of Gen. "People need intuitive, holistic solutions they can trust. We're uniting decades of expertise and the global scale of Gen's Consumer Cyber Safety Platform with MoneyLion's industry-leading financial ecosystem. Gen is uniquely positioned to empower people to make smarter financial decisions, take greater control, and build lasting financial well-being." Under the terms of the agreement, Gen acquired MoneyLion for $82.00 per share in cash, representing a transaction value of approximately $1 billion. Additionally, MoneyLion shareholders are entitled to receive one contingent value right (CVR) per share, offering a conditional payment of $23.00 in the form of Gen common stock if, on any date from the date hereof prior to April 17, 2027, for over 30 consecutive trading days, the average volume-average share price of Gen common stock is at least $37.50 or Gen undergoes a change of control. The CVRs are approved to be listed on the Nasdaq Stock Market. To learn more about the acquisition visit Additionally, the Company will hold its Fiscal 2025 Q4 and Full-Year Earnings Call on May 6, 2025, at 2 p.m. PT / 5 p.m. ET and will share more about Gen's expanded financial wellness offerings then. About GenGen (NASDAQ: GEN) is a global company dedicated to powering Digital Freedom through its trusted consumer brands including Norton, Avast, LifeLock, MoneyLion and more. The Gen family of consumer brands is rooted in providing financial empowerment and cyber safety for the first digital generations. Today, Gen empowers people to live their digital lives safely, privately and confidently for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy, identity protection and financial wellness to nearly 500 million users in more than 150 countries. Learn more at Cautionary Statement Concerning Forward-Looking Statements This press release contains forward-looking statements, which are subject to safe harbors under the Exchange Act of 1934, as amended. Forward-looking statements include statements that represent our expectations or beliefs concerning future events, including, without limitation, references to our ability to utilize our deferred tax assets, as well as statements including words such as "expects," "plans," "anticipates," "believes," "estimates," "predicts," "goal," "intent," "momentum," "projects," "forecast," "outlook," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," and similar expressions. In addition, projections of our future financial performance, anticipated growth and trends in our businesses and in our industries, the consummation of or anticipated impacts of acquisitions, divestitures, restructurings, stock repurchases, financings, debt repayments and investment activities, the outcome or impact of pending litigation, claims or disputes, our intent to pay quarterly cash dividends in the future, plans for and anticipated benefits of our products and solutions, anticipated tax rates, benefits and expenses, the impact of inflation, fluctuations in foreign currency exchange rates, changes in interest rates, ongoing and new geopolitical conflicts, and other global macroeconomic factors on our operations and financial performance, the expected impact of our new strategy and other characterizations of future events or circumstances are forward-looking statements. These statements are only predictions, based on our current expectations about future events and may not prove to be accurate. We do not undertake any obligation to update these forward-looking statements to reflect events occurring or circumstances arising after the date of this press release. Investor Contact Media Contact Jason Starr Jess Monney Gen Gen IR@ Press@ View original content to download multimedia: SOURCE Gen Digital Inc.
Yahoo
07-04-2025
- Business
- Yahoo
If You'd Invested In Gen Digital 5 Years Ago, Here's the Gain You'd Have
Gen Digital (NASDAQ:GEN), the leading provider of cybersecurity solutions, has been a publicly traded company since June 1989. Known for its brands like Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner, the company is a key provider of antivirus and identity protection to millions of users globally. Read Next: Try This: Here's a closer look at the Gen Digital performance over the past five years, major drivers behind the company's growth and how much you'd have now if you had invested in the stock five years ago. Next, check out the best-performing stocks in the S&P 500 over the past 20 years. Gen Digital, previously known as NortonLifeLock, has built a name for itself in the software industry. Over the years, the company has expanded its offerings beyond antivirus protection by also providing identity protection and digital threat solutions. These services cater to over 500 million users in more than 150 countries worldwide. One of the major revenue drivers of Gen Digital is from subscriptions to its various software offerings. Unlike businesses that rely on one-time software sales, Gen Digital's customers pay for ongoing protection, ensuring a steady income stream. Gen Digital's growth has been modest. To fuel its growth and diversify its offerings, the company announced in December 2024 its plan to acquire the fintech business MoneyLion Inc. (NYSE:ML). 'By bringing MoneyLion into the Gen family, we're not only helping people protect what they already have, we're extending our capabilities to enable people to better manage and grow their financial wealth,' said Vincent Pilette, CEO of Gen Digital. Find Out: Gen Digital has had moderate growth over the last five years. When the COVID-19 pandemic hit in March 2020, the demand for online security solutions surged. At the time, Gen Digital's share price stood at around $18. As lockdowns happened in many countries, the broader stock market tanked. However, companies offering cybersecurity solutions — like GEN — soared. Over the past five years, shares of Gen Digital stock rose over 40%. While the GEN stock price has gone up, overall growth has slowed due to the fierce competition from its rivals like Check Point Software Technologies (NASDAQ:CHKP) and Cloudflare (NASDAQ:NET). Despite the stiff competition, however, Gen Digital has continued to generate consistent revenue. If you invested in Gen Digital in March 2020 and held it until today, how much would you have gained? GEN stock price in March 2020: $18 GEN stock price in March 2025: $28 Stock price growth: 56% Here's a breakdown of how much you'd have if you invested these amounts in Gen Digital five years ago: Initial Investment Final Value Total Gain $1,000 $1,560 $560 $3,000 $4,680 $1,680 $5,000 $7,800 $2,800 $10,000 $15,600 $5,600 While the growth isn't as explosive as some growth tech stocks, it's significantly higher than the average 10% return of the S&P 500. You'd have gained a solid return if you invested in Gen Digital in 2020. Plus, Gen Digital pays dividends, which — especially reinvested — would increase your earnings. After growing more than 50% over the past five years, the question remains: Is Gen Digital worth a buy now? The company has a considerable market share in the cybersecurity space. With digital threats becoming more sophisticated, the demand for cybersecurity and identity protection services will likely continue to rise. Gen Digital has positioned itself well with its suite of security offerings catering to both individuals and businesses. Yahoo Finance analyst recommendations are split between buy and hold — of 10 analysts, five recommend holding, but four give it a 'buy' rating, and one gives it a 'strong buy.' While the company has generally performed well over the years, its growth has slowed down compared to its rivals. So, whether Gen Digital stock is a buy or not depends on your financial goals and risk tolerance. If you're looking for a cybersecurity stock with long-term growth potential, Gen Digital could be worth considering. Editor's Note: GOBankingRates is a Gen Digital company. This content is not provided by Gen Digital. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Gen Digital. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying How Much Money Is Needed To Be Considered Middle Class in Every State? 4 Things You Should Do if You Want To Retire Early 4 Affordable Car Brands You Won't Regret Buying in 2025 This article originally appeared on If You'd Invested In Gen Digital 5 Years Ago, Here's the Gain You'd Have
