Wiz signals IPO ambitions with the appointment of Fazal Merchant as CFO
Wiz signals IPO ambitions with the appointment of Fazal Merchant as CFO
Former Co-CEO of Tanium joins Wiz to lead financial strategy and operational growth as the cloud security decacorn prepares for its next phase.
After months of speculation regarding its lack of a Chief Financial Officer, cloud security decacorn Wiz announced on Thursday the appointment of Fazal Merchant as its new President and CFO. According to the company, Merchant will "lead Wiz’s financial strategy and drive operational excellence in support of the company’s unprecedented growth, while also ensuring IPO readiness."
Merchant brings a wealth of experience to Wiz. Most recently, he served as Co-CEO of Tanium, an endpoint management company, where he helped triple the company’s valuation to nearly $10 billion in under four years. Prior to that, he was CFO of DreamWorks Animation SKG, playing a key role in managing its sale to Comcast. Merchant also held leadership roles at DirecTV, including Head of Corporate Development and CFO of DirecTV Latin America, overseeing the company’s acquisition by AT&T. Born in Pakistan and raised in the United States, Merchant currently serves on the boards of Ariel Investments, Ryman Hospitality Properties, and Warner Bros. Discovery.
This high-profile hire follows a transformative year for Wiz. Over the past 12 months, the company closed a $1 billion funding round in May, completed three acquisitions (Dazz, Gem Security, and Raftt), and reached $500 million in annual recurring revenue (ARR).
“I’ve spent over a year getting to know Fazal, and hiring someone of his caliber at this stage in our evolution is a game-changer,” said Assaf Rappaport, Co-Founder and CEO of Wiz. “Fazal brings unparalleled knowledge and hands-on experience in building and scaling some of the world’s most iconic companies. He’s perfectly equipped to navigate the challenges and opportunities of leading a fast-growing company at our scale. We’re thrilled to welcome him to Wiz as we embark on this exciting journey together.”
Merchant expressed enthusiasm for his new role, stating, “Wiz represents a generational opportunity. Few companies have had such a profound impact on an industry in such a short time, addressing critical needs for global enterprises. Wiz’s record-breaking momentum is a testament to its outstanding team of innovators. I’m excited to help align financial strategy and operational excellence with the company’s vision as Wiz continues to pioneer the future of cybersecurity, achieving new milestones and redefining the industry.”
