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Damballa names David R. Scholtz as new chief executive

Scholtz previously served as the company's vice president of global sales and alliances. His positions as president/CEO and director on the Damballa board are effective immediately.

Prior to joining Damballa, Scholtz held executive positions at McAfee and Mercury. He began his career at Accenture, and has founded and led two technology startups.

"The investors in Damballa believe that the company has an unprecedented opportunity for growth in the security market", said Ron Nash, partner at InterWest Partners and director on the Damballa board, in a press release statement. “David Scholtz has a proven track record of building high performing-teams, driving business strategy and delivering results."

David Welsh, partner at Adams Street Partners and formerly executive VP of business development and corporate strategy at McAfee, joined the Damballa board during its recent funding round. "In my experience of over twenty years in the industry, Dave is one of the most talented executives I have had the pleasure of working with”, Welsh noted in the same release.

"The security industry is in the midst of a paradigm shift. If you rely on seeing the malware, you've already lost the battle”, added the new Damballa CEO. “Prevention-based security solutions are ineffective in stopping advanced threats and targeted attacks.”

Scholtz is a graduate of Stanford University, with a degree in international relations.

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