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Former Akamai CEO to Sell Shares.
2005-11-29, HostMan.biz Content delivery network operator Akamai Technologies (akamai.com) said on Monday that executive chairman George Conrades plans to sell one million shares of Akamai common stock over the next six months. The sale, expected to begin on December 6, 2005, is for personal financial and estate planning purposes. Conrades has earmarked 450,000 shares for charitable purposes. Conrades was Akamai’s chief executive officer since the company's founding in 1998. He recently stepped down in favor of current CEO Paul Sagan. According to reports, Akamai revealed on Monday that it had cut 30 employees in the wake of its acquisition of rival Speedera Networks. A total of $1.8 million in severance and outplacement services is being paid out. |
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