Becker Steps Down as NaviSite’s CEO
August 16th, 2010 By: Rich Miller
Arthur Becker has resigned as CEO of NaviSite, effective immediately, the managed hosting company said today. Becker will be succeeded by conpany president Brooks Borcherding, who will now add the CEO title and duties. Becker will remain a member of the NaviSite board.
“I am proud of the company we have built and the team that I have had the privilege to lead during the past 8 years,” said Becker. “With the divestitures of non-strategic assets and the deleveraging of our balance sheet during this past year, I look forward to a new pace of organic growth in Enterprise Hosting and Cloud services under Brooks’ leadership.”
Becker’s resignation comes a week after the NaviSite board rejected a takeover offer from Atlantic Investors, which owns 36 percent of the company’s shares. Becker is a managing member of Madison Technology LLC, which in turn is a managing member of Atlantic, whose $3.05 a share valued the company at about $115 million. The board said it “will continue to consider strategic alternatives available to NaviSite, including maintaining NaviSite as a standalone public company.”
Borcherding joined NaviSite as its Senior Vice President of Sales and Chief Revenue Officer effective April, 2009 and has served as NaviSite’s President since March, 2010. From 2005 until April 2009, Mr. Borcherding served as the Strategy, Planning and Operations Director of Cisco Systems, Inc. and worked at Avaya Inc. from 1997 to 2005.