Fastly Elevates Product Chief Kip Compton To CEO: Retail Investors Bullish
Synopsis
Nightingale replaces Todd Nightingale, who has been CEO since September 2022.
Fastly (FSLY) has elevated its Chief Product Officer, Kip Compton, to Chief Executive and appointed him to the company's board, effective immediately.
Compton succeeds Todd Nightingale, who has stepped down as CEO, President, and board director. Nightingale, who has been CEO since September 2022, will remain an advisor to the company till the end of this month.
Fastly shares were unchanged in pre-market trading on Tuesday. They are down 23% year-to-date.
Compton has over 25 years of senior leadership experience delivering innovation in cloud, video, and networking. He joined Fastly in January 2024 as CPO, after serving as a senior vice president of strategy and business development at Cisco.
Compton holds a Master’s of Business Administration degree from Wharton Business School.
On Stocktwits, the retail sentiment for the company was 'bullish' as of early Tuesday, unchanged from a month back.
A few users said that Nightingale's departure was positive for the company, although they would like to consider analysts' price actions before making up their own minds.
Fastly also reaffirmed its financial guidance for the second quarter and fiscal year 2025 it issued last month.
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