CAMBRIDGE, Mass. April 25, 2012
- Leading provider of cloud, mobile, Internet media and Web security solutions opens CEO search for next phase of Company’s growth
- Sagan plans to serve until successor is named to ensure smooth, planned transition
Akamai’s Board of Directors has formed a search committee to select a new CEO and has retained Heidrick & Struggles, a nationally recognized executive recruiting firm, to advise the Board on potential candidates.
Mr. Sagan was appointed President in 1999 and has led Akamai as CEO since 2005, when he was also named to the Company’s Board of Directors.
"For nearly a decade and a half, Akamai has been on an incredible journey, prevailing against enormous odds and challenges to become a global leader in Internet technology and services," Mr. Sagan said. "With the Company demonstrating strong growth and business results, and as I approach my 15th year helping to lead the business, I have concluded this is the ideal time for the Board to select the Company’s next leader to drive Akamai’s continued growth for many years to come."
Mr. Sagan continued, "It is an honor to work with Akamai’s talented and dedicated professionals. We have an exceptionally strong and experienced management team of executives who are committed to the Company’s success, and I am confident that all of us will make this transition successful as we identify and welcome my successor."
Martin M. Coyne II
George H. Conrades
This release contains information about future expectations, plans and prospects of Akamai’s management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements about Akamai’s future growth. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, failure to increase revenues due to price declines, loss of customers or macro-economic conditions, any early departure of Mr. Sagan, inability of Akamai services to operate as expected or to address intended market needs, a failure of Akamai’s network infrastructure, and other factors that are discussed in Akamai’s Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
SOURCE Akamai Technologies, Inc.