- Push-out Score determined
- After about two years in the position
- Accolades, praise and thanks for Bixby
- Search for a successor
- Bixby spoke at length and said 143 words
(exechange) — San Francisco, California, May 4, 2022 — Joshua Bixby, chief executive of Fastly, leaves. As announced by Fastly Inc. in a news release and in a regulatory filing published on Wednesday, May 4, 2022, Joshua Bixby leaves his post as chief executive officer at the edge cloud network provider, after about two years in the role, effective as of the date of his successor’s appointment.
Fastly will undertake a search for a successor.
“Now is the right time”
Joshua Bixby’s departure from the CEO post is explained as follows. Joshua Bixby said: “As the Board and I considered how to best position Fastly for long-term success, I have decided that now is the right time to transition to a new leader.”
Precise information regarding Joshua Bixby’s future plans was not immediately available.
Fastly said: “Once a successor is appointed, current Chief Executive Officer Joshua Bixby will step down as CEO and from the Fastly Board of Directors.”
Fastly further stated: “The Board, Bixby and Fastly’s management team are committed to ensuring a successful and smooth transition, and Joshua will remain with the company to help ensure Fastly continues executing on its strategy and creating value for stockholders.”
Fastly further said: “On April 29, 2022, Joshua Bixby notified the Board of Directors (the “Board”) of Fastly, Inc. of his decision to resign as Fastly’s Chief Executive Officer and as a member of the Board, effective as of the date of his successor’s appointment (the “Separation Date”). Mr. Bixby will remain Chief Executive Officer and a member of the Board until the Separation Date.”
“Not the result of any disagreement”
“Mr. Bixby’s decision to resign as Fastly’s Chief Executive Officer and as a member of the Board, effective on the Separation Date, is not the result of any disagreement with Fastly regarding Fastly’s operations, policies or practices,” Fastly said.
Share price decline since May 2021
The announcement follows a decline in Fastly Inc.’s share price of 73% since May 2021.
In the position of CEO since 2020
Joshua Bixby became CEO of the Company in 2020.
Joshua Bixby has served as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors since February 2020, and served as the Company’s President from May 2017 to February 2020.
He has been on the Company’s executive leadership team since December 2015 and served in a part-time advisory role since 2013.
From February 2013 to August 2013, Bixby served as Vice President of Acceleration at Radware Ltd., a cybersecurity and application delivery solutions company.
Bixby served as President and co-founder of Strangeloop Networks, a web application acceleration solutions company, from June 2006 until its acquisition by Radware in February 2013.
From October 2002 to April 2006, Bixby was a co-founder, President and Chief Executive Officer of IronPoint Technology, Inc., a content management software solutions company.
Bixby is the founder of Stanley Park Ventures, an early stage foundry based in Vancouver, British Columbia.
Bixby earned his B.A. in Management and Business Economics from the University of Toronto.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Joshua Bixby’s move on a scale of 0 to 10.
exechange reached out to Fastly and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2022 ($).