Juniper Networks CEO resigns after review of negotiations with customer, Rahim named successor

MarketsAssociated Press

Computer network equipment maker Juniper Networks said Monday that CEO Shaygan Kheradpir has left the company after less than a year.

Kheradpir resigned as CEO and stepped down from the board of directors. Juniper said Networks in a press release that his resignation "follows a review by the board of directors of his leadership and his conduct in connection with a particular negotiation with a customer." The release said the company and Kheradpir have "different perspectives" on the issue and that the review that led to his departure will not bring about a restatement of its financial results.

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Kheradpir, a former executive for Verizon Communications Inc. and Barclays PLC, became CEO of Juniper Networks when Kevin Johnson retired on Jan. 1.

The Sunnyvale, California, company named Rami Rahim as its new CEO effective immediately. Rahim has been with the company for 17 years and was in charge of development and innovation. He also became a director of the board of directors.

Shares of Juniper Networks Inc. lost 4 cents to $21.46 in aftermarket trading.