Network equipment maker Juniper Networks says Barclays executive Shaygan Kheradpir will take over from Kevin Johnson as chief executive at the start of 2014.
Johnson had announced plans to retire in July, having led the company since 2008, when he joined from software giant Microsoft (Seattle, WA, USA).
Kheradpir is currently chief operations and technology officer at financial services provider Barclays (London, UK), and before that he worked as executive vice president and chief information and technology officer at Verizon Communications (New York City, NY, USA).
During Kheradpir’s time at Verizon, the operator evolved from a regional phone company into one of the country’s largest providers of communications services.
Kheradpir is personally credited with helping to create and implement technologies and products that anticipated future market needs – including IP multimedia and fiber optic service (FiOS).
“The board has conducted a comprehensive search process and we’re very excited to name Shaygan Kheradpir as our next chief executive officer,” said Scott Kriens, Juniper’s (Sunnyvale, CA, USA) chairman. “Shaygan has a proven track record of successful business operations and technology leadership, with industry knowledge and technical vision from the perspectives of both telecommunications service providers and global enterprises.”
Juniper recently flagged a six-fold rise in profits on signs of improving demand for its products.
The company, which competes against Cisco (San Jose, CA, USA) in the market for internet switches and routers, said net income for its third quarter rose to $99.1 million, from just $16.8 million in the same period of 2012, with revenues up by 6%, to $1.19 billion.
Johnson pointed to strong demand among service-provider customers and said Juniper was continuing to gain traction within the enterprise sector.
The comments provided some encouragement to investors after Juniper had flagged relative weakness in the enterprise market earlier in 2013.
Juniper also said it was monitoring the possible impact on federal spending of a recent government shutdown but remained bullish about its prospects for the final quarter of 2013.