Akamai Announces Senior Leadership Changes

Rhea-AI Summary

Akamai Technologies, Inc. (NASDAQ: AKAM) announced significant leadership changes effective December 13, 2021, with Mani Sundaram promoted to EVP & General Manager of the Security Technology Group, while Kate Prouty steps up as CIO. Sundaram, a 15-year Akamai veteran, has successfully led the development of managed security services, contributing to over $1.3 billion in annual revenue for the security segment. Rick McConnell, the current GM for STG, is leaving to become CEO of another public company, marking a pivotal transition for Akamai's strategic growth in security.

Positive

• Mani Sundaram's promotion signals strong leadership for the Security Technology Group, fostering innovation.
• Sundaram's experience enhances Akamai's security offerings, crucial as internet security evolves.
• Kate Prouty's leadership role may bring a fresh perspective and continuity in IT management.

Negative

• Rick McConnell's departure raises concerns about continuity in leadership within the Security Technology Group.

CAMBRIDGE, Mass., Nov. 15, 2021 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the world's most trusted solution to power and protect digital experiences, today announced that Mani Sundaram, currently Akamai's EVP and chief information officer (CIO), has been named EVP & general manager of the Security Technology Group (STG), and that Kate Prouty is being promoted to CIO. These changes are effective December 13, 2021. Rick McConnell, Akamai's president and current general manager for STG, will be leaving Akamai to become CEO of a public company after transitioning responsibilities to Mr. Sundaram.

Mr. Sundaram is a 15-year Akamai veteran who currently oversees Akamai's Infosec, IT, and Global Services functions. "Mani is an excellent choice to lead STG's next phase of innovation and growth," said Dr. Tom Leighton, Akamai's co-founder and chief executive officer. "He oversaw the growth of our Security Operations Centers from a single facility in 2014 to a global operation that today supports thousands of the world's leading enterprises. He led the development of our very successful managed security services over the last seven years, and has developed deep relationships with many of our most important security customers. As CIO, he was also the first buyer of our security products and has been particularly engaged with our fast-growing enterprise security products. Throughout his distinguished career at Akamai, he has demonstrated agility, strong and authentic leadership of a multi-thousand-person organization, and a customer-first mindset."

"I'm really excited to take on the leadership of our Security Technology Group," Mr. Sundaram commented. "The nature of internet security is evolving rapidly and I've had a unique vantage point of helping Akamai and our customers unlock the value of our products and services. I'm thrilled at the opportunity to apply this experience to building the next generation of Akamai's world-leading security offerings."

Mr. Sundaram's current CIO role will be assumed by Kate Prouty. Ms. Prouty has had a distinguished 22-year career at Akamai, leading the transformation of Akamai's business processes with an emphasis on flexibility, agility, and user experience. "Kate understands that success requires the right combination of people and technology," Dr Leighton continued. "She has been instrumental in developing systems that have been foundational to the company's growth and scale, ensuring the smooth operation of our business and helping us best serve our customers. She also brings an adept understanding of security, risk and compliance across our industry and our business."

Commenting on Mr. McConnell, Dr. Leighton added, "We thank Rick for the significant contributions he's made in helping drive Akamai's growth over the past 10 years. He played an important role in building our security business and laying the foundation for future growth in this critical segment, which now exceeds $1.3 billion in annual revenue. He has also been instrumental in managing and scaling Akamai's product development process, accelerating innovation and improving productivity. We wish him the very best in the next phase of his career."

About Akamai

Akamai powers and protects life online. The most innovative companies worldwide choose Akamai to secure and deliver their digital experiences - helping billions of people live, work, and play every day. With the world's largest and most trusted edge platform, Akamai keeps apps, code, and experiences closer to users - and threats farther away. Learn more about Akamai's security, content delivery, and edge compute products and services at www.akamai.com, blogs.akamai.com, or follow Akamai Technologies on Twitter and LinkedIn.

Akamai Statement Under the Private Securities Litigation Reform Act

This press release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC. In addition, the statements in this press release represent Akamai's expectations and beliefs as of the date of this press release. Akamai anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while Akamai may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Akamai's expectations or beliefs as of any date subsequent to the date of this press release.

Media Contact
Gina Sorice
(646) 320-4107
gsorice@akamai.com

Investor Contact
Tom Barth
(617) 274-7130
tbarth@akamai.com

 

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SOURCE Akamai Technologies, Inc.

FAQ

What leadership changes were announced by Akamai on November 15, 2021?

Akamai announced Mani Sundaram as the new EVP & General Manager of the Security Technology Group and Kate Prouty as the new CIO, effective December 13, 2021.

What is the significance of Mani Sundaram's promotion at Akamai?

Sundaram's promotion is expected to drive the next phase of innovation and growth within the Security Technology Group, leveraging his extensive experience in security operations.

What role did Rick McConnell play at Akamai?

Rick McConnell served as the President and General Manager of the Security Technology Group and was instrumental in building Akamai's security business, which generates over $1.3 billion in annual revenue.

How might Kate Prouty's appointment impact Akamai's IT strategy?

Kate Prouty's appointment may enhance IT management and continue the transformation of Akamai's business processes, focusing on flexibility and user experience.

What are the potential implications of the leadership changes for AKAM stock?

The leadership transitions could influence investor confidence in Akamai's direction, particularly its emphasis on security growth, which may impact stock performance.