Rackspace CEO retires; co-founder/chairman to act as interim CEO

In tandem with its Q4 results, Rackspace (RAX) announces CEO Lanham Napier has retired from his position, and from the company's board. Co-founder/chairman Graham Weston will act as interim CEO while Rackspace searches for a permanent replacement.

Napier will remain in a consulting role with Rackspace for the next few months. He now "plans to invest in and advise other entrepreneurial companies."

Weston previously served as Rackspace's CEO from 1999-2006. Napier has been running the show during Rackspace's entire history as a public company.

RAX -12.4% AH.

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Comments (4)
  • Trader's Profit Compass
    , contributor
    Comments (2072) | Send Message
    if i saw amazon and google slashing cloud service costs every 4 months, i'd retire too.
    down 12% is just the beginning.....EPS down 33% yoy.....Short RAX
    10 Feb 2014, 08:19 PM Reply Like
  • Van Hyder
    , contributor
    Comments (172) | Send Message
    Agreed, this is one to short . . no one is going to buy them. They're heading to zero at some point in the not too distant future.
    10 Feb 2014, 09:59 PM Reply Like
  • Jayadams22
    , contributor
    Comments (39) | Send Message
    If I could get over my loud speaker on the trading floor and name all of the stocks that are going to zero, this would be the first name out of my mouth.
    11 Feb 2014, 09:27 AM Reply Like
  • StopPrintinMoney
    , contributor
    Comments (305) | Send Message
    On the other hand, co-founder back at wheel at least temporarily?.... Owner-operated companies are managed better, are they not? ($vwmax)
    11 Feb 2014, 10:54 AM Reply Like
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