Limelight Confirms Robert Lento As Permanent CEO

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On Tuesday, Limelight Networks (NASDAQ: LLNW  ) announced that it has confirmed interim CEO Robert Lento as its permanent CEO, effective immediately. Simultaneously, the company said former CEO Jeff Lunsford will step down from his post as chairman of the Board of Directors, while Lento takes a place on the board.

Lento has served as interim CEO of Limelight since Nov. 26, during which time the company's shares rallied nearly 38% to hit a recent high near $2.30. The shares dipped a bit today, down 0.9%. Before Lento's appointment, however, Limelight lost nearly 80% of its market cap, falling from a February 2011 high of more than $8 to a low of $1.67 when Lento's appointment as interim CEO was announced.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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Related Tickers

11/27/2015 12:59 PM
LLNW $1.68 Down -0.04 -2.33%
Limelight Networks… CAPS Rating: **