Continuing to flesh out its management ranks in the wake of Chief Technology Officer Steve McCanne's departure back in February, computer networking company Riverbed Technology (NASDAQ:RVBD) announced Monday that it has hired Ginna Raahauge away from rival Cisco Systems to become its own new Senior Vice President and Chief Information Officer.
Raahauge held a similar position at Cisco Systems, where she was Vice President for information technology. Cisco has not yet said who it will pick to replace her.
In a statement welcoming her aboard, Riverbed CEO Jerry M. Kennelly described Raahauge as bringing with her "over twenty years of experience both optimizing and transforming IT for an industry giant as well as building IT from the ground up."
Riverbed shares are up 4.3% on this news, and on news that the company has been upgraded by analysts at Oppenheimer. As of this writing, shares trade for about $16.07.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Cisco Systems and Riverbed Technology. The Motley Fool owns shares of Riverbed Technology. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.