LastPass attempts to open a new chapter by separating from its parent company

The password manager has announced the completion of its planned separation from GoTo (formerly LogMeIn) in an attempt to establish itself as an independent cloud security company.

LastPass will operate under LMI Parent, a holding entity of the existing shareholder group.

“As part of LastPass’ evolution, the company is now guided by an executive team with extensive cybersecurity experience, having recently appointed new chief product, chief marketing, and chief information officers, each of whom being widely respected veterans in the industry,” the company noted.

The separation, announced back in December 2021, as well as new hires, is being conducted at a time when the once-reputable password manager is having trust issues following a number of serious breaches in 2015, 2021, and 2022.

The major attack from 2022, when hackers even managed to steal customer information, still casts a shadow, making users wonder if LastPass is safe to use.

However, the company seems to be addressing the issue. Recently, it established a threat intelligence team to “protect the broader LastPass community by proactively monitoring for, analyzing, and helping to mitigate potential threats targeting LastPass, its customers, and the greater industry.”