Akamai Technologies, Inc. (NASDAQ: AKAM), the leading global service provider for accelerating content and business processes online, announced today that J.D. Sherman, 40, has assumed the role of Chief Financial Officer of Akamai as part of a planned succession.
Akamai announced last fall that Mr. Sherman was joining the company as Senior Vice President and CFO-Elect to prepare to take over as CFO from Robert Cobuzzi, 64, who was planning to retire after completing the Company's full-year financial reporting and filing requirements for 2005.
Prior to joining Akamai, Mr. Sherman served as the chief financial executive of IBM's $21 billion Systems and Technology Group. He held a number of senior executive positions in Finance at IBM, including Vice President of the Server Division, and Assistant Controller for Corporate Financial Strategy and Budgets.
"I am delighted that J.D. is now our CFO," said Paul Sagan, Akamai's President and CEO. "During the past four months, J.D. has quickly learned our business and become a key member of the executive team. He is an accomplished finance executive with broad knowledge of the information technology industry, and he brings to Akamai a strong background and understanding of what is necessary to successfully position this company for long-term success."
As CFO, Mr. Sherman will be responsible for all of Akamai's financial operations, including corporate accounting, external reporting, financial planning, treasury, tax and investor relations. In addition, he will oversee internal audit, real estate, and mergers and acquisitions. He will report directly to Mr. Sagan.
Mr. Sherman has an M.B.A. from the University of Chicago and a B.A. in Economics from Emory University.
Akamai® is the leading global service provider for accelerating content and business processes online. More than 1,900 organizations have formed trusted relationships with Akamai, improving their revenue and reducing costs by maximizing the performance of their online businesses. Leveraging the Akamai EdgePlatform, these organizations gain business advantage today, and have the foundation for the emerging Web solutions of tomorrow. Akamai is "The Trusted Choice for Online Business." For more information, visit www.akamai.com.