Zscaler (ZS) Names Ross Tackett Chief Revenue Officer

Zscaler (ZS) shares fell 9% after announcing Chief Revenue Officer Mike Rich's departure for personal reasons. Ross Tackett will succeed him. The drop followed a 4% after-hours decline, attributed to profit-taking. Rich will remain as an advisor until December 2026. The stock is down 11.6% YTD and 42% from its 52-week high.

U.S. Treasury yields rose, with the 30-Year yield at 5.51% and the 10-Year at 5.21%, impacting housing stocks like D.R. Horton (DHI), Zillow (Z), and Lennar (LEN). Datadog (DDOG) rose 7%, Akamai (AKAM) secured a $12B AI deal, and Zscaler (ZS) fell 8.6% on AI cybersecurity concerns. Meta (META) dropped 3.4%, while Microsoft (MSFT), Dell (DELL), and Qualcomm (QCOM) saw gains.

U.S. markets rose midday on Sept. 25, with AI momentum boosting tech and utilities sectors. Akamai (AKAM) surged 15% after an $11.6B cloud deal with Anthropic, while Moderna gained and Zscaler (ZS) fell 9% on management changes. The S&P 500, Dow, and Nasdaq all climbed, despite rising Treasury yields.

Zscaler (ZS) shares declined Friday following the departure of its chief revenue officer, Mike Rich, for personal reasons. The company named Ross Tackett as his replacement. The move comes ahead of an investor day scheduled for October 6. Cybersecurity stocks broadly pulled back amid strong gains in 2026.

Zscaler (ZS) fell 9% after its CRO Mike Rich's exit, while Fastly (FSLY) dropped 6% due to Citi's doubts about AI traffic revenue under its billing model. Zscaler appointed an internal successor, and Fastly's CFO noted AI traffic is small but growing. Both stocks declined on company-specific news.

Zscaler Inc. (NASDAQ:ZS) shares dropped 8.6% after CRO Mike Rich's departure. Ross Tackett, current Worldwide Head of Sales, will replace Rich. Jefferies noted execution risks but expects limited disruption, citing Tackett's experience and the company's unchanged guidance for fiscal 2027.