Rapid7 Adds Three New Board Directors in Jana Partners Settlement
Rapid7 has added three new directors to its board in a settlement with activist investor Jana Partners, a move intended to enhance strategy and boost shareholder value amid market challenges.
Published on March 28, 2025
Cybersecurity company Rapid7 has reached a settlement with activist investor Jana Partners to appoint three new directors—Wael Mohamed, Mike Burns, and Kevin Galligan—to its board. With this move, the board now consists of eight members, a change aimed at bolstering the company’s strategy, execution, and overall shareholder value. CEO Corey Thomas expressed optimism that the new expertise in digital transformation, finance, and operations would drive better performance.
The decision comes amid a challenging economic environment that has seen Rapid7's stock fall 41% over the past year, reducing its market value to about $1.8 billion. The agreement, reported on March 24, 2025, follows discussions about improving operations and evaluating potential sale options to fortify the company's market position, with Jana managing partner Scott Ostfeld also voicing optimism regarding the steps ahead.