F5 (FFIV) Announces New Leadership Roles

By Bobby Samwell • Tuesday, September 03 15:21 • Permanent Link

F5 (NASDAQ: FFIV) has announced three new leadership roles aimed at driving increased agility, productivity, and AI innovation. Tom Fountain, previously F5’s Executive Vice President of Global Services and Chief Strategy Officer, has been appointed as Chief Operating Officer (COO). Chad Whalen, former Executive Vice President of Worldwide Sales, will now serve as the Chief Revenue Officer (CRO). Kunal Anand, the recently appointed Chief Technology Officer, has expanded his responsibilities to become the Chief Technology and AI Officer.

These changes come as F5 is streamlining its go-to-market functions, combining sales and marketing under Chad Whalen's leadership. The company aims to drive revenue growth, particularly across its software solutions, and execute its land-and-expand strategy across its large enterprise, service provider, and government customer base, which currently exceeds 20,000 globally.

Moreover, F5 is reinforcing its commitment to innovation in AI, with Kunal Anand's expanded role now including oversight of the company-wide AI strategy. These leadership changes are effective immediately and all the appointees will report to F5 President and CEO, François Locoh-Donou.

In addition to the new appointments, F5 has launched an external search for a replacement for Kara Sprague, the current Executive Vice President and Chief Product Officer, who will be leaving the company in November 2024 to assume the role of CEO at a private technology company.

François Locoh-Donou, F5 President and CEO, expressed confidence in the new leadership team, emphasizing the company's commitment to driving heightened agility, productivity, and innovation to stay ahead of the rapid pace of IT infrastructure change.

These changes reflect F5's strategic realignment in response to the evolving market landscape and the company's focus on driving growth and innovation in key areas. The market has reacted to these announcements by moving the company's shares -2.0% to a price of $199.03. Check out the company's full 8-K submission here.

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