John McAdam, chairman of the board of directors at F5 Networks (Nasdaq: FFIV), will assume the duties of president and CEO at the technology company effective immediately.
F5 said Monday Alan Higginson, lead independent director at F5, will take over as non-executive chairman of the board and that McAdam will continue to serve as a board member.
McAdam will remain president and CEO until the board of directors finds a permanent successor to Manual Rivelo, who resigned from his roles.
McAdam is a 15-year veteran of F5 who retired in July as the company’s president and CEO.
He currently sits on the board of Apptio, Nutanix and Tableau Software and worked at IBMÂ (NYSE: IBM) as general manager of the Web server sales business.
He spent four years as president and chief operating officer at Sequent Computer Systems until its acquisition by IBM in 1999.
