The company replaced Rivelo with John McAdam, who has served as both chairman and CEO of F5 Networks, on Monday. F5 Networks' board will immediately begin searching for a permanent CEO.
The company may also look for a buyer, Pacific Crest said in an analyst note on Tuesday.
"Management disruption increases the potential for F5 to seek a strategic buyer in 2016 concurrent with a search for a new CEO," Pacific Crest said.
F5 Networks, which provides application delivery services, said Rivelo's departure is not related to the company's finances or operating performance.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate F5 NETWORKS INC as a Buy with a ratings score of B. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.