CyberArk Expands Management Team with New CFO Appointment

May 19, 2011

NEWTON, Mass. – May 19, 2011 – Cyber-Ark® Software, the leading global information security provider for protecting and managing critical applications, identities and sensitive information, today announced Josh Siegel as Chief Financial Officer (CFO). Siegel will draw on his more than 20 years of global financial management experience with public and private companies to support Cyber-Ark’s continued, long-term growth.

Prior to joining Cyber-Ark, Siegel served as CFO for the publicly traded company Voltaire Ltd., a leading provider of InfiniBand and Ethernet connectivity solutions, which was acquired in February 2011. While at Voltaire, Siegel led its initial public offering (IPO) on NASDAQ and was member of the executive team helping to scale the company and manage its investor relations, finance, accounting and legal departments.

“Cyber-Ark is committed to making ongoing investments focused on driving global growth and increasing market share and revenues. Further strengthening our leadership team is an important step in reaching those goals,” said Udi Mokady, CEO, Cyber-Ark Software. “With Josh joining as CFO, we have brought on an experienced, energetic team player who is very much aligned with our business, brand and culture. We look forward to gaining from his financial management experience as the company is on track to achieve aggressive customer, technology and corporate-wide milestones.”

Previously, Siegel served in senior finance positions in global high technology companies including Lucent Technologies (originally Lannet Ltd., which was acquired by Lucent). He also held management positions with SLM Corporation, an $8 billion publicly traded financial corporation listed on the New York Stock Exchange, as director of capital markets and director of credit risk management.

“Udi and his team have built an incredible company that maintains its entrepreneurial roots while scaling to meet the increasingly complex security and compliance needs of its global customer base,” said Siegel. “I am proud to be part of a growing company with such a strong market presence and reputation for innovation and dedication to its customers and partners.”