Splunk CEO: Stepping in at a great time to be a stabilizing force

• Gary Steele, the incoming Splunk CEO, stated on Friday that he aims to serve as a "stabilizing force" for both the company and its clients.
• The company's fourth quarter and full-year results, as well as the appointment of Steele, were announced on Wednesday.
• Steele stated to CNBC, "I am taking over at an excellent moment. It's a fantastic opportunity, and I believe we have a promising future."

Gary Steele, the new CEO of Splunk, stated on Friday that he aims to be a stabilizing force for the company and its customers.

Splunk, which has been without a permanent CEO since mid-November, has announced the appointment of Steele to take over as CEO and join its board on April 11.

Splunk has shifted its focus from traditional on-premise software sales to cloud subscriptions.

Steele stated in an interview on "Mad Money" that he believes he can be a stabilizing force for the company, customers, and deliver the next chapter for the company.

On Wednesday, Splunk reported its fourth quarter and full-year fiscal 2022 results. The revenue in the fourth quarter was $901.1 million, exceeding the analysts' expectations of $774.5 million, according to FactSet. Additionally, Splunk's full-year sales guidance of between $3.25 billion and $3.3 billion was above Wall Street's estimates.

Steele stated, "I am joining at an excellent moment. Our current positioning is ideal, and I believe we have a promising future ahead."

Steele, the former chairman and CEO of Proofpoint, led the company to 70 consecutive quarters of growth before it was acquired by Thoma Bravo in August.

Steele stated, "My run there was incredible, an unforgettable experience for me, and I hope to carry that experience and those relationships with me."

Graham Smith, who had been serving as interim chief, will return to his role on the board.

On Friday, Splunk's shares rose nearly 6%, closing at $129.06, bringing its year-to-date gains to 11.5%. Despite this, the company's stock has not yet returned to its pre-Merritt departure price of $167.82, which it reached on Nov. 12. Following the surprise CEO shakeup, the stock fell 18%.

Join the CNBC Investing Club to receive updates on Jim Cramer's market moves.