Eric Gan stepped down as Cybereason CEO because of internal board tensions while the company battled financial difficulties and risked bankruptcy and overall leadership uncertainty.

The CEO of Cybereason Eric Gan stepped down because he couldn't resolve his conflicts with the board members. Cybereason experienced worsening financial problems and boardroom disagreements after being valued at US$5 billion in 2021. The resignation of Gan comes after investors from Liberty Strategic Capital and SoftBank’s Vision Fund were sued over their prevention of necessary company financing. The investors present in the case have officially rejected these allegations.

The cybersecurity venture Cybereason which receives backing from SoftBank currently holds an estimated worth range of US$300 million to US$400 million for 2023. The company faces significant survival challenges because of several financial difficulties and workforce cuts and delayed initial public offering (IPO).

SoftBank extended a US$100 million rescue to the company in April 2023 yet internal disagreements continue to prevent new funding chances. The future of the proposed Trustwave-Cybereason merger became less certain because of continuous executive instability at the firms.

Gan plans to take legal action against Cybereason’s main investors which creates additional challenges for the company's survival. The company's prospects for recovery become hazy as it tries to find replacement CEO leadership.