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

|About: Rackspace Hosting, Inc. (RAX)|By:, SA News Editor

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.

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