Juniper CEO quits after board reviews customer negotiation

Reuters News
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Posted: Nov 10, 2014 4:55 PM

(Reuters) - Network gear maker Juniper Networks Inc <JNPR.N> said Chief Executive Shaygan Kheradpir resigned, following a board review of his conduct in a negotiation with a customer.

Kheradpir's resignation comes a year after he was hired from Barclays Plc <BARC.L> to head the company.

His appointment indicated Juniper's focus on software-based networking and services, a technology that allows users to substitute some of the most complex hardware functions in server switches with software.

The review will not impact the company's finances, Juniper added in its statement on Monday.

The company named Rami Rahim, a 17-year Juniper veteran, as Kheradpir's replacement.

Rahim has served as executive vice president and general manager for development and innovation.

The company was not immediately available for comment, while Kheradpir could not be immediately reached.

Shares of the company fell 1.5 percent in after market trading.

(Reporting by Anya George Tharakan in Bangalore; Editing by Don Sebastian)