Diego Navarrete, the former director of IBM’s Security Systems Division in Europe, was named CEO of the struggling Panda Security in January. The Spanish antivirus firm in 2011 had cut its workforce by about 35% in the wake of a flattening antivirus market hit hard by free consumer antivirus offerings. Panda has 700 employees in 85 countries today, and 80% of its revenue comes from outside its native Spain. Navarette: “We are going back to enhancing our presence in [security research] and being a thought leader again””]
Source: https://www.darkreading.com/cloud/q-a-panda-security-staging-a-comeback