- Push-out Score determined
- After less than three and a half years in the position
- Thanks for Jones
- Amar Maletira taking over
(exechange) — San Antonio, Texas, September 26, 2022 — Kevin Jones, chief executive of Rackspace, leaves. As announced by Rackspace Technology Inc. in a news release and in a regulatory filing published on Monday, September 26, 2022, Kevin Jones has left his post as chief executive officer at the cloud computing company, after less than three and a half years in the role, effective September 23, 2022.
Kevin Jones’s duties as CEO will be taken over by Amar Maletira, most recently President and Chief Financial Officer at Rackspace Technology Inc.
“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”, Rackspace stated.
Rackspace is majority owned by Apollo Global Management Inc.
Apollo is a private-equity company.
“Improve and accelerate the execution”
Rackspace did not give an explicit reason for Kevin Jones’s departure from the CEO post. David Sambur, Co-Head of Private Equity at Apollo Global Management and Chairman of the Rackspace Technology Board of Directors, said: “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.”
Jones will be operating advisor at Apollo
“Outgoing CEO Kevin Jones will take on the role of operating advisor with Apollo,” Rackspace said.
Rackspace said: “Mr. Maletira will succeed Kevin Jones, who stepped down from his role as Chief Executive Officer effective September 23, 2022.”
Share price decline since September 2021
The announcement follows a decline in Rackspace Technology Inc.’s share price of 65% since September 2021.
In the position of CEO since 2019
Kevin Jones became CEO of the Company in 2019.
Kevin Jones has served as a Director and the Company’s Chief Executive Officer since April 2019.
Prior to joining the Company, Jones served as Chief Executive Officer since October 2017 and Director since 2018 of MV Transportation, Inc., a passenger transportation contracting service.
Jones served as Senior Vice President and General Manager of Americas at DXC Technology Company, a multinational end-to-end IT services and solutions company, from April 2017 until October 2017.
He served as Senior Vice President and General Manager at Hewlett Packard Enterprise Company (“HPE”) from August 2014 until March 2017.
He served as the Chief Customer and Sales Officer for Dell Services at Dell Inc. from 2011 until 2014, where he led go-to-market functions for applications, business process outsourcing, infrastructure services and cloud computing businesses.
Before joining Dell, he spent 21 years at Hewlett Packard and Electronic Data Systems, where he held executive positions in both Europe and Asia.
He has served as Executive Sponsor of three employee resource groups at HPE: the Black Employee Network, Young Employee Network and PRIDE.
Jones currently serves as a member of the board of directors for Herbalife Nutrition, Inc. since March 2021 and as a member of the board of directors for CareerBuilder since February 2021.
He has previously served on the board for the North Texas Food Bank, the World Affairs Council of Dallas and MV Transportation.
Jones holds a Bachelor’s degree from James Madison University and is a Certified Management Accountant.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Kevin Jones’s move on a scale of 0 to 10.
exechange reached out to Rackspace and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2022 ($).