Riverbed Appoints Ernie Maddock As Chief Financial Officer

Riverbed Technology (NASDAQ: RVBD), the application performance company, today announced the appointment of Ernie Maddock, currently chief financial officer at Lam Research Corporation, to the position of chief financial officer, effective April 29, 2013. In his role, Maddock will report to chairman and chief executive officer Jerry M. Kennelly and will manage all of the financial, operational and IT areas at the company. He replaces chief operating officer and chief financial officer Randy Gottfried, who will be retiring from Riverbed effective May 3, 2013.

Maddock has been with Lam Research for more than fifteen years, helping grow the company into a multi-billion dollar leader in the semiconductor capital equipment industry. While at Lam Research, in addition to his chief financial officer role, Maddock held senior roles as vice president of customer support and vice president of global operations. Prior to Lam Research, Maddock held a variety of senior financial and operational positions at NCR Corporation.

“We are excited to welcome Ernie to the Riverbed team,” said Jerry M. Kennelly. “As we move into our next phase of growth, Ernie brings a wealth of experience and a proven track record building companies, managing operations and working with the investment community.”

Randy Gottfried has served as Riverbed's chief financial officer since joining the company in February 2004. “I am proud of what we have built at Riverbed over the last nine years, as our technology and people have impacted enterprise IT on a global scale,” said Gottfried. “I leave with tremendous confidence both in the company’s long-term prospects and in the team that will continue to guide Riverbed going forward.”

“We appreciate Randy’s hard work and many contributions to Riverbed, supporting our growth from a pre-revenue start-up to a global billion-dollar revenue company,” said Jerry M. Kennelly. “We wish him all the best in the future.”

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