Shares of Zscaler fell after the cybersecurity company promoted Ross Tackett to the role of chief revenue officer, succeeding Mike Rich.

The stock was recently down 8.1%, to $197.27, on Friday. Shares have lost nearly 11% of their value year to date.

Zscaler said late Thursday that Rich is stepping down from the company for personal reasons. He will remain with the company as a strategic advisor through the end of the year, it said.

Tackett, who most recently served as Zscaler's head of worldwide sales, will step into the role of chief revenue officer effective Oct. 1. He has been with the company for three years and brings more than three decades of technology sales leadership experience, according to Zscaler.

Oppenheimer analysts Ittai Kidron and George Iwanyc said in a research note that Tackett's appointment likely triggered other promotions within the sales organization that have been the works.

"We anticipate a smooth transition given Tackett's existing role/experience at the company," they wrote, adding that they expect to receive more details on the revenue-chief transition and any further go-to-market changes at Zscaler's investor day next week.