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11 Feb 2014
Board of Directors Forms Search Committee to Identify Successor
BOSTON, MA – Feb. 10, 2014 — /BackupReview.info/ — Carbonite, Inc. (Nasdaq:CARB) (the “Company”) announced today that founder David Friend will transition out of his role as President and Chief Executive Officer when his successor is named. Friend, 66, will remain directly involved with the Company after a successor is appointed to ensure a successful leadership transition. Upon the appointment of a successor President and Chief Executive Officer, Friend will take on the role of Executive Chairman of the Board of Directors (the “Board”) and serve as an advisor on key strategic initiatives for the Company in that capacity.
“Since Carbonite’s inception in 2005, my past nine years as CEO have been nothing short of an incredible journey and I am looking forward to my new role as Executive Chairman of the Board,” said Friend. “Now is the right time for the Board to select the Company’s next leader to drive Carbonite’s continued growth for many years to come. I remain fully committed and will be working side by side with my successor to ensure a smooth transition occurs.”
“As a result of David’s insightful leadership and guidance, Carbonite has transformed from a successful start-up into one of the most admired publicly traded Boston-based tech companies,” said Todd Krasnow, Carbonite’s Lead Independent Director. He added, “The Board is committed to conducting a thorough search to identify the right successor. On behalf of the Board, the management team, and all Carbonite employees, we thank David for his leadership, and his remarkable dedication as Carbonite’s CEO for nearly a decade. We look forward to David’s continued leadership and vision in his new role as Executive Chairman. ”
The Board has formed a search committee to identify a successor President and Chief Executive Officer and will retain an executive search firm to assist in the process.
Source: Carbonite, Inc.
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