By Natalie Weger
Fastly shares declined in midday trading Tuesday after the cloud platform company named a new chief executive officer.
Shares were down 6.4% at $6.76. The stock has fallen 29% this year.
After the close on Monday, Fastly named Kip Compton, its chief product officer, as its new CEO, effective immediately. Compton succeeds Todd Nightingale, who resigned and will join Arista Networks as president and chief operating officer.
Oppenheimer analyst Param Singh said in a research note Tuesday that Compton's role as CPO will create a smooth transition, but as with any senior management change the churn of executive roles adds execution risk in the near term.
Write to Natalie Weger at natalie.weger@wsj.com
(END) Dow Jones Newswires
June 17, 2025 13:36 ET (17:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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