Rackspace® Hosting on Tuesday announced that Lanham Napier retired from the company as Chief Executive Officer and as a member of the Board of Directors. Graham Weston, Rackspace’s co-founder and Executive Chairman of the Board of Directors, has been appointed Chief Executive Officer. Mr. Napier plans to invest in and advise other entrepreneurial companies following a decision to step away from public company executive leadership. He will remain a consultant to Rackspace for the next several months to ensure a smooth transition.
“It has been a privilege to be part of Rackspace for the past fourteen years,” said Mr. Napier. “I have enjoyed working with Rackers and our customers to bring Fanatical Support® to the fast-growing market of cloud computing. My decision to step down as CEO was a difficult one, but it’s the right choice for me and for the company. With the board and management team aligned around our 2014 strategy and financial plan, I believe now is a natural transition point to select a new leader for the next exciting phase of Rackspace’s growth. I look forward to following Rackspace’s success as I return to my entrepreneurial roots – to build new things and invest in disruptive ideas.