Edgio has promoted Todd Hinders to CEO, effective immediately. He has also joined the company’s board of directors. Hinders takes over from Bob Lyons, who has resigned from his role as President and CEO and as a member of the board of directors.
Edgio made the personnel changes after it recently received $66 million in financing from Lynrock Lake Master Fund LP and agreed to exchange its convertible notes due 2025 for new convertible notes due 2027. As part of the exchange agreement, Edgio agreed to implement certain governance changes, including a reduction in the number of Board members from nine to five, and the appointment of two new independent directors mutually acceptable to Edgio and Lynrock.
