Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

Juniper CEO announces retirement following excellent Q2 results

Soundly beat Wall Street estimates: $US1.15 billion in revenue, $US60 million better than expected

Juniper Networks CEO Kevin Johnson will retire once a successor is found.

Johnson abruptly announced his retirement after Juniper (NYSE: JNPR) announced its second quarter earnings in which it soundly beat Wall Street estimates: $US1.15 billion in revenue, $US60 million better than expected; and profit $US0.04 per share higher than forecast.

Johnson will continue to serve in his current capacities while a transition is completed. Juniper's board has formed a search committee and hired an executive recruiting firm to draft its next CEO.

Despite today's second quarter results, Juniper's financial results have been inconsistent. The company dropped in market share rankings in both service provider edge routing and enterprise switching. And Juniper's security business has declined in the face of new competitors.

[HAS ANYONE SEEN MY...Juniper losing its enterprise mojo]

Things appear to be rebounding in the second quarter. And in the third, Juniper expects more of the same strong routing and switching demand, and a stabilizing security business.

"I would like to thank Kevin for his tireless commitment and countless contributions," Chairman Scott Kriens said in a statement. "Over the past five years under Kevin's leadership, Juniper has delivered innovative new products and improved operational capabilities, while the business has grown more than 50 per cent and we look forward to Kevin's continuing leadership as we conduct our search for his successor. We are very pleased with our current momentum, and the health and strength of the company as we look towards a bright future in a growing industry."

Johnson said, in a statement: "It has been a privilege to have served as Juniper's CEO during the past five years. Juniper has an exceptional management team and world-class employees and together we have grown our business and strengthened our position in the networking industry. Networks are being transformed by the rapid increase in traffic volume, cloud computing and the mobile Internet and we are entering a fresh cycle of customer investments in the network.

"With this positive momentum, I believe it is a good time to transition to new leadership and drive the next phase of Juniper's growth, and I look forward to working with the board to ensure a seamless transition. I am confident in the current strength and long-term potential of Juniper's business, as evidenced by the results of the most recent quarter and the company's proven ability to innovate and execute."

Jim Duffy has been covering technology for over 25 years, 21 at Network World. He also writes The Cisco Connection blog and can be reached on Twitter @Jim_Duffy.

Read more about lan and wan in Network World's LAN & WAN section.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: Cisco, Juniper, Juniper Networks, LAN, NYSE, Scott, Wall Street
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: business issues, personnel, router, juniper networks, LAN & WAN
Latest Blog Posts
Whitepapers
  • Using an Expert System for Deeper Vulnerability Scanning
    This paper serves security professionals interested in better techniques for finding vulnerabilities, who have a solid understanding of networking principles and familiarity with the concepts related to hacking, vulnerabilities, and exploits. Read on for an in-depth view of the use of expert systems to achieve accurate and detailed vulnerability results.
    Learn more »
  • The CIO Paradox
    As there are timeless leadership principles underlying IT value, there are unfortunately also timeless challenges that thwart the IT organisations efforts and make for a rocky path to CIO success. These are the inherent contradictions we call the CIO Paradox.
    Learn more »
  • Top 20 Critical Security Controls - Compliance Guide
    Simply being compliant is not enough to mitigate attacks and protect critical information. Organizations can reduce chances of compromise by shifting away from a compliance-driven approach. This guide provides the Top 20 Critical Security Controls (CSCs) developed by the SANS Institute to address the need for a risk-based approach to security.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Latest Jobs
Salary Calculator

Supplied by

View the full Peoplebank ICT Salary & Employment Index

Recent comments

Computerworld
ARN
Techworld
CMO