Juniper Networks CEO Kheradpir Resigns With Immediate Effect

Juniper Networks on Monday named Rami Rahim chief executive officer, replacing Shaygan Kheradpir, who has resigned with immediate effect. Kheradpir's resignation comes after a review by the management board of his leadership and conduct in connection with a negotiation with a customer, the company said in a statement. "The board and Kheradpir have different perspectives regarding these matters," the statement said, without providing further detail. "The board's review will not result in any adjustments to the Company's financial statements," it said. Rahim previously served as executive vice president and general manager of the company's development and innovation business. The executive has been with Juniper for 17 years. The company will hold a conference call at 2:15 pm PST to discuss the announcement. Shares fell 1.5% in after-hours trade and are down 4.7% in the year so far, while the S&P 500 has gained 10.3%.