SAN FRANCISCO (AP) -- Riverbed Technology said Friday that Eric Wolford will retire from its executive management team and join its board of directors.
Wolford, 46, has worked for the company for 11 years and currently serves as Riverbed's president of its product group business. The company said that his ability to align product strategies to market priorities will help guide the company's long-term corporate vision and technology innovations as a member of the board. He fills a vacant seat on the board.
The company also said that Wolford will be retiring from his daily responsibilities as a member of executive management in the fourth quarter of this year.
Riverbed, based in San Francisco, makes computer networking equipment.
Its shares fell 27 cents, or 1.6 percent, $16.36 in after-hours trading following the announcement. They lost 3 cents to close regular trading at $16.63.