David Faugno will also take a board seat at the Canadian security firm. As executive chair, Jeff Shiner will focus on “long-term strategy and vision, and champion our work on AI,” he said in a LinkedIn post. (The Logic)
Talking point: The two executives have been co-CEOs since November, when Faugno stepped up from the role of president and COO. He joined 1Password from investor Accel in September 2023, having previously been a senior executive at Qualtrics through two IPO attempts—one successful—and two takeovers. He recently said 1Password is on track for an IPO. Founded in Toronto, the firm is now fully remote; Faugno remains based in Phoenix. Shiner has led 1Password since July 2012, taking over as CEO seven years after the firm was founded. The company raised a then-record US$620-million Series C round at a US$6.8-billion valuation in January 2022.
