Guidance Software's Response To Ex-Chairman's Proxy Campaign: 'His Poor Performance As A Leader Had Hurt The Company's Performance'

Shawn McCreight is the founder and largest shareholder of Guidance Software, Inc. GUID, a provider of endpoint investigations solutions for cyber-security analytics. McCreight was also the company's former Chief Technology Officer and Chairman of the Board. He launched a proxy battle in February after his employment was terminated by the company. McCreight proposed a new slate of directors to be added to the company's board, including himself and 4 other industry executives to "quickly re-focus the company and its employees. Among other things, McCreight said in a letter to Guidance Software's Board of Directors that investors "have lost trust and confidence in the Company's leadership, strategy and governance policies and practices." Guidance Software's Board of Directors responded in a letter late Friday afternoon. The board pointed out that McCreight participated in "all material strategic decisions" during his tenure with a "record of missed deadlines." The board added that during McCreight's employment, the company saw declines in sales and market value. Under a new management team, the company's turnaround is now "underway, with encouraging customer wins." "Mr. McCreight was removed as Chair and CTO because, in the opinion of the independent Directors following a careful review, his poor performance as a leader had hurt the Company's performance," the board added. "The Board is recommending that stockholders reject his proposals, which seek to give a 30% stockholder control of the Board without paying a premium and without providing a realistic strategic plan."