Limelight Networks Picks New CFO

Tempe, Ariz.-based Limelight Networks (NASDAQ: LLNW  ) will soon have a new CFO.

On Wednesday, Limelight announced that current Chief Financial Officer Douglas Lindroth has entered a "transition period," after which he plans to leave the company to "pursue other business and professional interests." Replacing him will be new CFO Peter Perrone, who comes from Goldman Sachs' Merchant Banking Division, having experience in Internet infrastructure companies such as Limelight. He is a current member of Limelight's board of directors. He will step down from the Limelight board as he joins the firm as a senior vice president.

Perrone is joining Limelight as an employee on Aug. 19, and will transition to the CFO's post as Lindroth transitions out of it.

In a concurrent filing with the SEC, Limelight noted that it will be paying Perrone an annual salary of $325,000, plus:

  • An annual incentive bonus targeting $200,000.
  • 350,000 Restricted Stock Units and 1 million stock options, both vesting over four years
  • 100,000 more Restricted Stock Units vesting 30 days after he begins employment.

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