- Push-out Score determined
- After about 15 years in the position
- Praise and thanks for Chen
- Search for a successor
- Chen said 63 words
(exechange) — San Jose, California, July 30, 2019 — Lee Chen, chief executive of A10 Networks, leaves. As announced by A10 Networks Inc. in a news release and in a regulatory filing published on Tuesday, July 30, 2019, Lee Chen leaves his post as chief executive officer at the provider of automated cybersecurity products after about 15 years in the role, effective upon the appointment of a successor.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.4 years, according to data compiled by exechange. Only 9 percent of the CEOs who departed over the past 12 months left their position after more than 15 years.
A10 Networks will undertake a search for a successor.
“The appropriate time for me to transition the company to a new leader”
Lee Chen’s departure from the CEO post is explained as follows. Lee Chen said: “I have decided that now is the appropriate time for me to transition the company to a new leader.”
Precise information regarding Lee Chen’s future plans was not immediately available.
A10 Networks said: “A10 Networks also announced today the planned retirement of Lee Chen, president and chief executive officer of A10 Networks, to take place upon the appointment of a successor.”
A10 Networks further said: “On July 30, 2019, the Company announced the planned retirement of Lee Chen, the Company’s president and chief executive officer.”
Share price decline
The announcement follows a decline in A10 Networks, Inc.’s share price of 27% since October 2016.
In the position of CEO since 2004
Lee Chen became CEO of the Company in July 2004.
Lee Chen has served as the Company’s President, Chief Executive Officer and as a member of the Company’s board of directors since July 2004, and as the Chairman of the Company’s board of directors since March 2014.
From 1996 to August 2004, Chen served in a variety of positions, including as Vice President of Software Engineering and Quality Assurance at Foundry Networks, Inc., a company that designed, manufactured and sold high-end enterprise and service provider switches and routers, as well as wireless, security, and traffic management solutions.
Chen has previously held management and senior technical positions at OTS, Apple Computer, Convergent Technologies, Inc. and InSync Group, and was a co-founder of Centillion Networks, Inc.
Chen has an M.S.E.E. from San Jose State University and a B.S. in Electrophysics from National Chiao-Tung University in Taiwan.
Chen is a technology pioneer, especially in the area of Internet Protocol Multicast and System & System Security and holds numerous patents.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to A10 Networks and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 31.2019 ($).