NetApp Strengthens its Multi-cloud, Storage, and Data Services Leadership, Appoints Harvinder Bhela to Newly Created Chief Product Officer Role

Rhea-AI Summary

NetApp (NASDAQ: NTAP) appointed Harvinder Bhela as the new Chief Product Officer to boost its transformation into a multi-cloud leader, effective January 2022. This follows the retirement of Brad Andersen in June 2021. Bhela comes from Microsoft, where he generated over $10 billion in annual revenue in his last role. His leadership aims to enhance NetApp's cloud storage and data services, particularly as the company targets $1 billion in Cloud ARR. CEO George Kurian emphasizes the significance of this appointment for accelerating innovation and growth.

Positive

• Appointment of Harv Bhela as Chief Product Officer brings significant industry experience from Microsoft.
• Bhela's leadership is expected to accelerate the growth of cloud storage and data services.
• Targeting $1 billion in Cloud ARR indicates strong growth ambitions.

Negative

• Concerns regarding continuity following the departure of previous leadership in the cloud segment.
• Potential experience gap as Bhela transitions from Microsoft to a new industry context.

SAN JOSE, Calif.--(BUSINESS WIRE)-- NetApp® (NASDAQ: NTAP), a global, cloud-led, data-centric software company, today announced the appointment of Harvinder (Harv) Bhela to the newly created role of Chief Product Officer to accelerate the ongoing transformation of the company into a multi-cloud, storage, and data services leader. Reporting directly to NetApp’s Chief Executive Officer George Kurian, Bhela will join NetApp in January 2022. Bhela’s appointment follows the June 2021 announcement of the retirement of Brad Andersen, General Manager of NetApp’s Hybrid Cloud Business at the end of FY22. Anthony Lye, Executive Vice President and General Manager of NetApp’s Cloud Management and Platform Services Business Unit, will continue to lead the company’s rapid growth and innovation in emerging technologies, furthering its leadership position in Cloud Operations (CloudOps), also reporting to George Kurian.

Bhela joins NetApp after nearly 25 years at Microsoft, where he held multiple executive leadership positions, overseeing the creation of several award-winning products that set industry standards and created multi-billion-dollar categories with billions of users. Most recently, he served as Corporate Vice President of the Microsoft 365 Security, Compliance and Management business, which he grew to more than $10 billion in annual revenue, making Microsoft the largest security company in the world.

“Product leadership and breakthrough innovation are the foundation of NetApp’s business strategy and success. NetApp is at a critical point in the transformation of our company, with great momentum in our inexorable march to $1B in Cloud ARR. Under Anthony’s leadership we have successfully incubated a cloud storage and data services business and an emerging cloud operations business,” said Kurian. “Looking ahead, we have the opportunity to accelerate the expansion of our cloud storage and data services business, while continuing a focused approach to scaling our CloudOps business. I am excited to have Harv Bhela join NetApp’s leadership team, with his 25+ years of experience building industry-defining software categories and cloud services that are used by billions of users every day.”

Integrating the cloud storage, data services business and hybrid cloud business under Bhela’s leadership, NetApp will further accelerate the pivot to cloud of its storage business while maintaining leadership in flash and object storage. At the same time, the company will also be able to pursue the focused scaling of our CloudOps business under Lye’s proven leadership.

“I am thrilled to join NetApp at such a transformative time in the company’s history, and I look forward to working with the team on accelerating the growth of the company,” said Bhela. “The next generation of businesses are data-driven, digital businesses. NetApp is well positioned to deliver differentiated multi-cloud, storage, and data services solutions that allow them to unlock enormous business value in this ‘age of data.’ I was fortunate to play a key role in the unprecedented transformation of Microsoft, and I believe NetApp is poised to undergo a similarly successful transition beyond what the market has already seen.”

Before leading Microsoft 365 Security, Bhela built the company’s Exchange business, turning Office 365 into the world’s largest productivity cloud, and was instrumental in the successful launch of Windows 10. He holds a Master’s in Computer Science from the University of Minnesota and a Bachelor of Engineering from the University of Mumbai.

“I am very proud of the success we’ve achieved in public cloud,” said Lye. “We have delivered breakthrough technology innovations and built unique relationships with the hyperscalers, while successfully acquiring new companies and leveraging third-party IT platforms to bring in new business models. I look forward to leading the company’s continued expansion into emerging technologies and driving our leadership in CloudOps.”

“Safe Harbor” statement under U.S. Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about changes about the company’s leadership, accelerating our transformation to a data services leader, continuing our product leadership and breakthrough innovation, building on the momentum of FY21 and the first two quarters of FY22, accelerating our pivot to cloud while maintaining our leadership position in flash and object storage, and accelerating our growth and transformation. Actual results may differ materially from these statements for a variety of reasons, including, without limitation, customer demand for and acceptance of our products and services, our ability to successfully execute on our data fabric strategy to generate profitable growth and stockholder return, our ability to successfully execute new business models, general global political, macroeconomic and market conditions, changes in U.S. government spending, revenue seasonality, our ability to manage our gross profit margins, the impact of the COVID-19 pandemic on our business operations, including supply chain disruptions, our financial performance and results of operations, and our ability to expand our total available market and grow our portfolio of products. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled “Risk Factors” in our most recently submitted quarterly report on Form 10-Q and annual report on Form 10-K. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise.

About NetApp

NetApp is a global cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The company provides systems, software and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services, and applications to the right people—anytime, anywhere. Learn more at www.netapp.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208005353/en/

Media Contact:

Chris Drago

NetApp

chris.drago@netapp.com

Investor Contact:

Lance Berger

NetApp

lance.berger@netapp.com

Source: NetApp

FAQ

What is the significance of Harv Bhela's appointment at NetApp?

Harv Bhela's appointment as Chief Product Officer is strategic for enhancing NetApp's cloud storage and data services leadership.

When will Harv Bhela start at NetApp?

Harv Bhela will join NetApp in January 2022.

How does the leadership change impact NetApp's growth strategy?

The leadership change is aimed at accelerating NetApp's transformation towards a multi-cloud leader and achieving a target of $1 billion in Cloud ARR.