F5 CEO Abruptly Steps Down

F5 Networks CEO Manny Rivelo, appointed in April, has resigned, and is being replaced by John McAdam, Rivelo's predecessor and long-time CEO.

Rivelo stepped down "for matters of personal conduct unrelated to the operations or financials of the company," F5 Networks Inc. (Nasdaq: FFIV) said in a press release.

McAdam joined F5 in 2000 and served as president and CEO until he retired in July. McAdam will remain on the board but will step down as chairman to focus on his CEO duties; Alan Higginson, F5's lead independent director, has been named non-executive chairman of the board.

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Rivelo officially became CEO in July after training with McAdam since April, and planned to increase online security and software sales for the ADC provider, according to the Seattle Times, which also reported that F5 had strong financial returns during Rivelo's two quarters as CEO.

While at F5, Rivelo expanded F5 beyond the data center to the cloud to complement F5's hardware products, the company said in a press release announcing Rivelo's appointment as CEO in April. He joined F5 in 2011, after serving as senior VP engineering systems and operations at Cisco Systems Inc. (Nasdaq: CSCO), where he served for 19 years. 

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