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Ex-Philips exec to head security firm

Matt Medeiros, the former CEO of Philips Electronics' now-disbanded Components Division, has been picked to become the new CEO of SonicWall, the Internet security company announced on Wednesday. Medeiros replaces SonicWall interim CEO Bill Roach, who will continue with the company as a senior executive of operations.

While at Philips, Medeiros laid the groundwork for a joint venture in liquid-crystal displays between the company and LG Electronics, and was a proponent of home wireless-network products. Philips shut down its Sunnyvale, Calif.-based Components Division in November 2002 and moved parts of the group to other divisions.