Rackspace CEO retires as web hosting firm shifts focus

Tech News Headlines - Yahoo News (Reuters) - Rackspace Hosting Inc s chief executive of seven years is retiring as the web hosting company looks to transition into a cloud software developer. Lanham Napier, 42, who has led the company since 2006, was replaced by Rackspace s co-founder and former CEO Graham Weston. Rackspace, which leases online storage space to companies, said it would work to establish itself as a service provider for hybrid cloud, which involves storing data partly on the customers premises. We ll continue to build our capability in the software, build more software that helps our hybrid cloud operate better ... we re going to continue to run more and more private clouds for companies on-premise, Weston said on a conference call with analysts.