NetApp Appoints George Kurian CEO, Mike Nevens Chairman

(RTTNews) - Data-storage systems maker NetApp Inc (NTAP) on Monday appointed George Kurian as chief executive officer and member of the board, and lead independent director Mike Nevens as chairman, effective immediately.

The appointments follow the departure of Tom Georgens, the company's former chairman and CEO.

"NetApp is an exceptional company with a great future and the board believes that it is the right time for new leadership to maximize its potential," said Nevens.

"These changes are aimed at speeding the company's movement to its next phase of innovation and growth. While we intend to conduct a CEO search, we have the utmost confidence in George's ability to lead the company, given his deep knowledge of NetApp and support from a strong executive team," Nevens added.

Kurian joined NetApp in 2011 and has served as the company's executive vice president, Product Operations where he was responsible for overseeing the strategy and development of NetApp's Product and Solutions portfolio since September 2013.

NTAP closed Monday at $33.15, down $0.25 or 0.73%, on a volume of 4.3 million shares on the Nasdaq. In after hours, the stock dropped $0.26 or 0.80%.