Rackspace Shuffles CEO, Weston Returns

San Antonio-based cloud hosting firm Rackspace Hosting said late yesterday that Lanham Napier, the company's CEO, has retired from the company, and also stepped down from the company's board of directors. Napier will be replaced by Rackspace co-founder Graham Weston, who was Executive Chairman of Rackspace's board of directors. According to Rackspace, the move comes as Napier plans to invest in and advise other, entrepreneurial companies, and will be a consultant to Rackspace for the next few months. According to Rackspace, it is now conducting a search for a long term successor. Napier had been at Rackspace for the past fourteen years.