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MORRISVILLE, N.C. - Extreme Networks, Inc. (NASDAQ:EXTR), a $1.91 billion market cap company engaged in AI-driven networking solutions, has appointed Anisha Vaswani as its Chief Information and Customer Officer (CICO). The announcement came earlier today, with Vaswani set to report to Extreme President and CEO Ed Meyercord. According to InvestingPro data, the company maintains a strong gross profit margin of 57% despite recent market challenges.
In her new role, Vaswani is tasked with the development and implementation of the company’s IT strategy to align with business objectives and growth. She will focus on fostering innovation within the company and enhancing customer experiences. Her responsibilities include overseeing customer success initiatives, engaging with customers for successful technology transitions, and ensuring customer value and retention. With the stock currently trading at $14.37, between its 52-week range of $10.49-$19.24, analysts maintain price targets ranging from $16 to $22.50, suggesting potential upside opportunities.
Vaswani’s appointment reflects Extreme Networks’ commitment to integrating technology and customer experience. Meyercord praised Vaswani’s expertise in cloud adoption, cybersecurity, and AI, as well as her proven track record in driving product adoption and customer lifetime value. He expressed confidence in her ability to contribute to Extreme’s evolution into a leading SaaS company.
Bringing extensive experience from her previous CIO roles at companies such as IDG, Box, Toast, Inc., and Shockwave Medical, Vaswani has been instrumental in scaling operations and growing revenues. At Shockwave Medical, she helped increase annual revenue to $1B, and at Toast, she was part of the team that saw the company’s revenue grow from $1B to over $3B.
Vaswani expressed her enthusiasm for joining Extreme Networks at a crucial juncture, with the company’s innovations poised to redefine networking’s future. She emphasized the importance of creating customer value and the role of innovation in achieving transformative success.
Extreme Networks is known for its AI-powered cloud networking solutions that cater to tens of thousands of customers globally. The company is focused on delivering secure and simplified solutions to help businesses connect devices, applications, and users while addressing various challenges.
This move is part of Extreme Networks’ ongoing efforts to strengthen its leadership team and position itself as a frontrunner in the networking space. The information is based on a press release statement from Extreme Networks, Inc. For deeper insights into Extreme Networks’ financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and expert analysis covering over 1,400 US stocks.
In other recent news, Extreme Networks reported its financial results for the second quarter of fiscal year 2025, with earnings per share (EPS) of $0.21, surpassing analyst expectations of $0.18. Revenue also exceeded forecasts, reaching $279.4 million. The company is projecting full-year revenue between $1.120 billion and $1.138 billion, with upcoming quarter guidance set between $276 million and $284 million. In addition, Extreme Networks announced a new $200 million stock buyback plan, set to commence on July 1, 2025, following the completion of its current buyback program. The company also launched Platform 1, a new networking and security solution, and reported an 18% year-over-year increase in subscription deferred revenue. Analysts from firms like Needham and Craig Hallum Capital have shown interest in the company’s recent developments, including the potential impact of WiFi 7 and the strategic role of Platform 1. Despite these positive developments, the stock experienced a temporary decline in pre-market trading.
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