NetApp CEO Steps Down

NetApp Inc. announced late Monday that George Kurian would become the company's next chief executive officer, effective immediately. He is replacing Tom Georgens, who has left the company. The announcement comes a week after the company reported a 7% year-over-year decline in revenue, missing Wall Street expectations. Kurian, who joined the company in 2011 as executive vice president of product operations, was also appointed to the company's board of directors. Shares of the network storage equipment maker fell 0.6% in afterhours trade.