NetApp CFO exits as firm streamlines top management

Storage firm claims move will drive efficiency and velocity

NetApp's chief financial officer has left for Blue Coat as the storage company rejigs its senior team in a bid to become more efficient.

Nick Noviello joined NetApp in 2008 and held a number of finance roles before becoming CFO in April 2014. He is moving to Blue Coat to take the same position there. NetApp has started its search for his replacement and said it is considering internal and external candidates.

Noviello's departure was announced today, at the same time as the company unveiled a new top-management structure it describes as flatter and more streamlined.

Effective immediately, a number of senior execs will now report directly to chief executive George Kurian, who took on the role last summer. The company claims this will drive efficiency and velocity in the business.

NetApp's CIO Cynthia Stoddard and Kris Newtown, vice president of investor relations, will now report directly to Kurian, and Bill Berg, senior vice president of operations, will report to Joel Reich, executive vice president.

Kurian said the changes are part of NetApp's pledge to take "decisive action" to boost growth.

"NetApp has a deep bench of talented leaders and I am excited to welcome Cynthia and Kris to my staff," he said. "Combining Bill's manufacturing operations team with Joel's product operations team reflects synergies and connections and will help us drive greater efficiencies this fiscal year."

"We believe today's announcement will optimise our organisational structure around our priorities as we continue to pivot towards the growth areas of the market."