Fastly Announces CFO Transition
Fastly (NYSE: FSLY) announced that Chief Financial Officer Adriel Lares will resign after five years, with a transition period to assist in finding a successor. Lares has been credited for his contributions during a significant growth phase, including the successful IPO. The company emphasized its strong growth potential and plans to search externally for a new CFO. Additionally, Fastly disclosed that they will discuss their first quarter 2021 financial results in an upcoming conference call.
- Lares contributed to significant financial and operational improvements.
- Fastly's commitment to a smooth leadership transition.
- The company is positioned for continued growth.
- Leadership changes may introduce uncertainty during the transition period.
Fastly, Inc. (NYSE: FSLY), provider of an edge cloud platform, announced today that Chief Financial Officer Adriel Lares will step down after five years of service. Lares will continue in his role as CFO until a successor is appointed, following which, he will remain with the Company during a transition period. Fastly is conducting an external search for its next CFO and has retained an executive search firm to assist in the process.
"On behalf of the entire Board and management team, I thank Adriel for his dedication and many valuable contributions during a pivotal period for our company," said Joshua Bixby, CEO of Fastly. “He was instrumental in our successful IPO, and has driven financial and operational improvements since that time as we have continued to grow rapidly. I am deeply appreciative that Adriel will remain with Fastly to help facilitate a smooth leadership transition and wish him all the best in his future endeavors."
"It has been a privilege to work alongside my friends who make up Fastly’s talented team, and I am proud of the significant progress we have made to drive our growth strategy and build a more trustworthy internet," said Lares. "I believe Fastly is operating from a position of strength, with a long runway of growth ahead, and I am committed to ensuring a smooth transition."
Fastly today separately announced its first quarter 2021 financial results and will host a conference call at 2:00pm Pacific Time (5:00pm Eastern Time) to discuss the results.
About Fastly
Fastly helps people stay better connected with the things they love. Fastly’s edge cloud platform enables customers to create great digital experiences quickly, securely, and reliably by processing, serving, and securing our customers’ applications as close to their end-users as possible — at the edge of the internet. Fastly’s platform is designed to take advantage of the modern internet, to be programmable, and to support agile software development with unmatched visibility and minimal latency, empowering developers to innovate with both performance and security. Fastly’s customers include many of the world’s most prominent companies, including Pinterest, The New York Times, and GitHub.
This press release contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, those regarding our ability to make a smooth leadership transition, our growth strategy and financial outlook. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports Fastly files with the Securities and Exchange Commission (SEC), our Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021. Copies of reports filed with the SEC are posted on Fastly’s website and are available from Fastly without charge.
Source: Fastly, Inc.
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