Amar Maletira Named CEO of Rackspace Technology – High-Performance Computing News Analysis

San Antonio – September 26, 2022 – Rackspace Technology (NASDAQ: RXT), a cloud technology solutions company, today announced the appointment of Amar Maletira as Chief Executive Officer. Mr. Maletira, who has served as Rackspace Technology’s President and Chief Financial Officer since November 2020, has assumed responsibilities effective immediately.

David Sambur, Co-Head of Private Equity at Apollo Global Management and Chairman of the Rackspace Technology Board of Directors, stated, “Amar brings broad management and leadership experience, and over the course of his career, he has helped transform several multi-billion -dollar technology businesses. He has also been instrumental in crafting Rackspace Technology’s new strategic direction and operating model. We believe his appointment as CEO will allow us to improve and accelerate the execution of our new go-forward strategy.”

Mr. Maletira added, “I thank the Board for the opportunity to lead Rackspace Technology. I am very excited about the journey ahead and look forward to leading the company as we transition to our new strategy and operating model. Powered by our strong Racker culture and devotion to driving Fanatical Experience® for our customers, we believe the execution of our strategy will establish the company as an industry leader.”

Mr. Maletira is a customer-focused global business leader with 25+ years of strategic and operational management, transformational leadership, sales, business development, and general management expertise. Prior to joining Rackspace Technology, he was Chief Financial Officer at Viavi Solutions. At Viavi, he executed a successful turnaround of the company by driving execution discipline, growing the business both organically and inorganically, re-aligning the capital structure and regaining investor confidence. Previously, he was at Hewlett-Packard for 15 years where he held several roles, including CFO of Enterprise Services for the Americas.

Mr. Maletira earned an MBA from the University of Michigan, The Ross School of Business and a Bachelor of Engineering from Karnataka University, Gogte Institute of Technology.

In addition to the CEO role, Mr. Maletira will continue as the CFO until a permanent CFO is named. The company will launch an immediate search for a permanent CFO.

Outgoing CEO Kevin Jones will take on the role of operating advisor with Apollo. Mr. Sambur added, “On behalf of the entire board of directors, I would like to thank Kevin for his service to Rackspace Technology over the past three and a half years. We look forward to working with him in his new role.”

Separately, the company announced that it expects third quarter 2022 financial results to be within the previously announced guidance range of $769-$779 million for revenue; $733-$741 million for core revenue; $73-$77 million for Non-GAAP Operating Profit; and 8-10 cents per share for Non-GAAP Earnings Per Share. Financial results for the quarter are expected to be announced in November.

Leave a Comment

News Msuica