30-year industry veteran to join Red Hat, bringing significant
publicly traded and technology industry leadership
RALEIGH, N.C.--(BUSINESS WIRE)--
Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source
solutions, today announced that Frank Calderoni will join the company as
executive vice president, operations and chief financial officer,
bringing more than 30 years of financial expertise, business thought
leadership, and operational excellence, in publicly traded companies and
technology industry leaders. Calderoni will be responsible for leading
the company's global finance organization and the leadership and
management of IT and operations teams, reporting to Red Hat president
and chief executive officer, Jim Whitehurst.
Calderoni served as executive vice president and CFO at Cisco Systems
for seven years and most recently served as an executive advisor. From
2004 through 2014, he managed the financial strategy and operations of a
company with more than 72,000 employees and total revenue for fiscal
year 2014 of $47 billion. During his tenure at Cisco, the company went
from $22 billion in revenue to $47 billion, and grew annual profits from
$0.62 per share to $1.49 per share. With more than 30 years of
experience, he has led high-performing finance organizations at global
software and technology companies including Cisco, QLogic Corp., SanDisk
Corp., and IBM.
He has been recognized by the San Francisco Business Times and
Larkin Street Youth Services as the 2013 Bay Area CFO of the Year for a
Public Company with revenues above $500MM and was considered one of the
Best CFO's three years in a row in 2012, 2013, and 2014 by Institutional
Investor magazine.
Calderoni succeeds Red Hat executive vice president and CFO Charlie
Peters, whose planned retirement was announced in December 2014, and who
will remain with Red Hat until July 31. As Red Hat's CFO since 2004,
Peters built a world-class organization, managing the company's
financial strategy and operations through rapid growth and expansion.
Under his leadership, Red Hat delivered 44 straight quarters of revenue
growth, taking Red Hat from $196 million in fiscal 2005 to almost $2
billion in fiscal 2015.
Calderoni joins Red Hat on June 22, 2015, and will succeed Peters as CFO
effective July 13, 2015.
Supporting Quotes
Jim Whitehurst, president and CEO, Red Hat
"We are thrilled
to have Frank join Red Hat and help lead the next phase of our growth as
we look to go from revenues approaching $2 billion to $10 billion and
beyond. He is a proven CFO and technology industry leader, and we are
fortunate to have such an experienced and operationally strong executive
join our team. I'd also like to express gratitude to Charlie for his
commitment to Red Hat. He has been instrumental in Red Hat's success for
more than a decade, helping to lead to our strong financial position,
and I look forward to similar success under Frank's leadership."
Frank Calderoni, named executive vice president, operations and CFO,
Red Hat
"I'm very excited to be joining Red Hat, an exceptional
company that is truly transforming enterprise technology. With the
pivotal role Red Hat leads in open source solutions from the datacenter
to the cloud, it is an outstanding opportunity to be a part of the
driving force behind much of that innovation. I am enthusiastic about
joining the team at Red Hat to help implement the next era of growth,
innovation, and customer success."
About Red Hat, Inc.
Red Hat is the world's leading provider of open source software
solutions, using a community-powered approach to reliable and
high-performing cloud, Linux, middleware, storage and virtualization
technologies. Red Hat also offers award-winning support, training, and
consulting services. As a connective hub in a global network of
enterprises, partners, and open source communities, Red Hat helps create
relevant, innovative technologies that liberate resources for growth and
prepare customers for the future of IT. Learn more at http://www.redhat.com.
Forward-Looking Statements
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"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
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various important factors, including: risks related to changes in and a
dependence on key personnel, the ability of the Company to compete
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vulnerabilities; ineffective management of, and control over, the
Company's growth and international operations; and fluctuations in
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Annual Report on Form 10-K (copies of which may be accessed through the
Securities and Exchange Commission's website at http://www.sec.gov),
including those found therein under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results
of Operations". In addition to these factors, actual future performance,
outcomes, and results may differ materially because of more general
factors including (without limitation) general industry and market
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governmental and public policy changes and the impact of natural
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point in the future, the Company specifically disclaims any obligation
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representing the Company's views as of any date subsequent to the date
of this press release.
Red Hat is a trademark of Red Hat, Inc., registered in the U.S. and
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Red Hat, Inc.
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or
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Source: Red Hat, Inc.
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