New CEO for NaviSite
Erin Kutz8/16/10
Andover, MA-based NaviSite (NASDAQ: NAVI), a provider of IT services such as data hosting, announced today that its CEO Arthur Becker has stepped down and will be replaced by NaviSite president R. Brooks Borcherding. Becker will remain on the company’s board and Borcherding, who joined NaviSite in 2009 from Cisco Systems, will occupy both the president and chief executive roles. “I look forward to a new pace of organic growth in Enterprise Hosting and Cloud services under Brooks’ leadership,” Becker said in the company announcement of the executive moves. Earlier this month, NaviSite rejected a buyout offer from a major stakeholder, Atlantic Investors, to purchase the company’s outstanding common stock for $3.05 per share.
Erin Kutz is an Associate Editor for Xconomy. You can reach her by e-mail at ekutz@xconomy.com or by phone at (617) 252-0700, or follow her on Twitter at @erkutz.
