Dive Brief:

• Password management firm LastPass on Tuesday announced that Terry Murphy, a finance veteran with an extensive tech industry background, was named the company’s CFO.

• Murphy brings more than 20 years of experience in financial leadership roles at both public and private companies, including software-as-a-service business-to-business organizations, according to a press release. Prior to his new role, he served as CFO for Qualio, a SaaS company in the life sciences space.

• Murphy is LastPass' first full-time CFO since flexible work software provider GoTo, formerly known as LogMeln, announced in December 2021 its intent to establish LastPass as a standalone company, LastPass spokesperson Elizabeth Bassler told CFO Dive via email. The appointment became effective on Jan. 30, she said.

Dive Insight:

LastPass has been under fire in recent months over its handling of a major cyberattack that compromised customers’ credentials and, potentially, business secrets.

The new CFO said he’s eager to “drive LastPass’ financial objectives forward for our customers and shareholders.” 

“LastPass has enormous potential ahead of it, and I’m looking forward to getting started,” he said in the press release.

Murphy is assuming the finance chief role from Tao Lu of Francisco Partners Consulting, who had temporarily served as LastPass’ interim-CFO immediately following the announcement of LastPass’ separation from GoTo, Bassler said. Rich Veldran continues to serve as CFO of GoTo, she said.

Besides Qualio, Murphy has served in finance leadership roles at Kenna Security, Whitehat Security, Luminate, Liveops, GoBeam, Sigma Networks, and Covad Communications, according to his LinkedIn profile.

LastPass CEO Karim Toubba praised Murphy in the company’s release, saying he expects him to have “a significant impact on the continued development of a highly effective and results-driven business.”

The company also announced that Abby Miller was named senior vice president of customer experience.