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Akamai Says CEO Sagan to Leave; Profit Less Than Estimates

Akamai Technologies Inc., which helps businesses deliver data at faster speeds over the Internet, said Chief Executive Officer Paul Sagan will leave by the end of 2013.

The Cambridge, Massachusetts-based company is starting a search to replace Sagan, who became president in 1999 and CEO in 2005. Akamai’s sales more than quadrupled during his leadership, to $1.16 billion in 2011 from $283.1 million in 2005.