Shift5's board stays with Magsig, names him full-time CEO
Shift5's now-permanent CEO Toby Magsig previously led the company on an interim basis for five months. Shift5 photo.
By
Ross Wilkers
The venture-backed cyber and operational technology outfit also finalizes a handful of other C-level executive appointments.
Shift5’s board of directors has appointed Toby Magsig to the chief executive role on a full-time basis, roughly five months after he was initially named interim CEO.
The cybersecurity company announced Tuesday that Magsig’s permanent appointment comes amid several other key hires and promotions to its C-level executive team.
Magsig joined Shift5 in January as interim CEO following a stint at L3Harris Technologies as vice president and general manager for an enterprise autonomous solutions business unit. He is also a former commander of the Joint Modernization Command at Army Futures Command.
Shift5 has also promoted Ryan Sublett to chief financial officer, Samantha Segall to chief growth officer and Sam Rajachudamani to chief strategy officer. Fred Rudesheim has joined the company as chief legal officer and general counsel, while Ronak Shah remains as chief technology officer.
Shift5 was founded in 2018 to develop software and other operational technology products for defense and transportation programs. The company closed a $75 million Series C capital round in September that involved Booz Allen Hamilton’s venture capital arm, AE Industrial Partners and Insight Partners as participants.