imgres-2Since April of 2000, Lanham Napier has worked at Rackspace Hosting.
At first, Napier served as Rackspace’s Chief Financial Officer and later President and then Chief Executive Officer. He oversaw the company grow from a startup to a publicly traded company with $1.5 billion in revenue and 200,000 customers.
On Monday, Napier announced his retirement from the company as CEO and a member of its board of directors effectively immediately.
Graham Weston, Rackspace’s co-founder and executive Chairman of the Board, is replacing Napier as CEO until a search for a new CEO is complete. He will work with Taylor Rhodes, Rackspace’s president.
Rhodes replaced Lew Moorman as president. He stepped down last year to spend more time with his family.
Napier plans to invest and work with entrepreneurs and he will continue to consult with Rackspace for the next few months.
images-4“It has been a privilege to be part of Rackspace for the past fourteen years,” Napier said in a statement. “I have enjoyed working with Rackers and our customers to bring Fanatical Support® to the fast-growing market of cloud computing. My decision to step down as CEO was a difficult one, but it’s the right choice for me and for the company. With the board and management team aligned around our 2014 strategy and financial plan, I believe now is a natural transition point to select a new leader for the next exciting phase of Rackspace’s growth. I look forward to following Rackspace’s success as I return to my entrepreneurial roots – to build new things and invest in disruptive ideas.”