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NetApp CEO Georgens out, Kurian takes over

NetApp CEO Tom Georgens has stepped down after a decade on the job. Product and strategy chief George Kurian takes the reins pending a CEO search.

NetApp has named George Kurian as its new chief executive officer after Tom Georgens stepped down.

Kurian had been NetApp's executive vice president of product operations overseeing strategy and the roadmap for the storage company. Kurian was added to NetApp's board of directors. Mike Nevens was also been elected chairman of NetApp's board.

In a statement, NetApp said that it intends on conducting a CEO search.

NetApp has had a series of mixed quarters and the company also has restructured. The company's declined 6.6 percent in its most recent quarter. NetApp hasn't delivered revenue growth in the last six quarters and profits have suffered.

Previously: NetApp Q4 a miss, CEO 'not satisfied'

The plan for NetApp has been to accelerate adoption of its ONTAP storage management software and targeting larger enterprises.

Analysts have said that NetApp has structural issues. Credit Suisse analyst Kulbinder Garcha said in a research note that NetApp appears to be losing market share. "We believe the revenue guidance implies product growth will continue to fall further in fiscal 2016 and 2017," said Garcha.