You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Around the Region

Carbonite’s CEO will leave the job

Carbonite Inc.’s president and chief executive, David Friend, will leave the helm of the Boston provider of online backup services, the company said Monday.

Friend, who cofounded the company in 2005, will be executive chairman of the board once Carbonite finds a replacement. He will “serve as an adviser on key strategic initiatives,” according to a press release. It did not specify a reason for the move.

Continue reading below

Friend took the company public in 2011. The initial offering had a strong performance, with the stock jumping 23 percent to $12.35. That didn’t last as competition grew. A year later, the shares hit a low of $5.80. Carbonite began to focus on small and midsize businesses; that has led to a recovery. The stock closed Monday at $10.42.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of