Rackspace announced the retirement of Lanham Napier as its Chief Executive Officer and as a member of its Board of Directors. Napier, who plans to invest in and advise other entrepreneurial companies, will remain a consultant to Rackspace for the next several months to ensure a smooth transition.
Graham Weston, Rackspace’s co-founder and Executive Chairman of the Board of Directors, has been appointed Chief Executive Officer.
Under Lanham’s leadership, Rackspace grew from a small startup to a global $1.5 billion public company, serving more than 200,000 customers, and has been one of the fastest-growing firms on the New York Stock Exchange. We are grateful for the way Lanham positioned Rackspace for continuing success in this attractive and growing market," stated James Bishkin, lead director on the Rackspace Board of Directors.