Rackspace Technology Hires Bobby Molu as New Chief Financial Officer

Rhea-AI Summary

Rackspace Technology announces the appointment of Bobby Molu as Chief Financial Officer effective January 16, 2023. Molu, previously CFO at Mastercard for International Markets, brings over two decades of financial leadership experience in the technology sector. His strong operational background is expected to drive Rackspace's transformation strategy, enhancing its position in the multicloud market. This leadership change follows Amar Maletira's promotion to CEO in September 2022.

Positive

• Bobby Molu's extensive experience in global financial leadership can provide valuable insights and strategies to drive efficiency.
• Molu's operational background may enhance Rackspace's transformation strategy, positioning the company for growth.
• The strategic leadership change supports Rackspace's goals in the competitive multicloud market.

Negative

• Transitioning leadership may disrupt ongoing projects or initiatives during the adjustment period.
• Concerns about continuity in financial strategy during the leadership transition phase.

New CFO with Strong Operational Background to Help Drive the Tech Company’s Transformation

SAN ANTONIO, Nov. 17, 2022 (GLOBE NEWSWIRE) --  Rackspace Technology® (NASDAQ: RXT) — a leading end-to-end, multicloud technology solutions company, today announced the appointment of Bobby Molu as Chief Financial Officer, effective January 16, 2023. Molu is filling the Rackspace Technology CFO role following the appointment of Amar Maletira to Chief Executive Officer in September 2022.

“As we continue the transformation of Rackspace Technology, I am thrilled to welcome Bobby to the company. He is a seasoned finance executive with a solid track record of success," said Amar Maletira, CEO, of Rackspace Technology. “Bobby’s global experience and a career spanning two decades in numerous financial leadership roles in the technology industry combined with his strong operational background will be key as we execute our strategy and new operating model, positioning Rackspace to the long-term multicloud market potential.” 

Molu joins Rackspace Technology from Mastercard where he was Chief Financial Officer of International Markets overseeing Europe, Asia Pacific, Middle East, Africa, Latin America, and Caribbean markets. Prior to this role, Molu was Chief Financial Officer, Asia Pacific region at Mastercard.

Before joining Mastercard, Molu spent 15 years at Hewlett-Packard in a variety of Finance roles, including Chief Financial Officer of Aruba Networks, where he led the integration of the Aruba acquisition by Hewlett-Packard Enterprise while driving cost efficiencies and revenue growth.

Prior to this role, Molu was the Chief Financial Officer for Enterprise Services- Asia Pacific and Japan where he led the region toward the largest ever year-over-year profit improvement performance. Molu also spent time in Australia and New Zealand, successfully leading the turnaround of the largest sub-region in Asia Pacific Prior to Hewlett-Packard, Molu worked in numerous finance roles with increasing responsibilities at IBM Global Services.

"I'm delighted to be joining the preeminent leader in multicloud solutions and working with Amar and the leadership team to accelerate the journey of delivering profitable revenue growth,” said Molu. “Rackspace Technology’s customer-first, cloud-first focus, coupled with its strong brand, committed employee base and world-class partner ecosystem makes it poised to execute its go-forward strategy and seize the multicloud market opportunity.”

About Rackspace Technology
Rackspace Technology is a leading end-to-end multi-cloud technology services company. We can design, build, and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.

Media Contact
Natalie Silva
publicrelations@rackspace.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae2feb10-a50f-4956-a8e8-674925392687

FAQ

What is Bobby Molu's background in finance?

Bobby Molu has over 20 years of experience in financial leadership roles in the technology sector, including serving as CFO at Mastercard and Hewlett-Packard.

When is Bobby Molu starting as CFO at Rackspace Technology?

Bobby Molu will officially assume the role of Chief Financial Officer on January 16, 2023.

What are the expected impacts of the new CFO on Rackspace Technology?

Bobby Molu's operational expertise and financial leadership are expected to drive the company's transformation and support its multicloud strategy.

Who appointed Bobby Molu as CFO of Rackspace Technology?

The appointment of Bobby Molu as CFO was announced by CEO Amar Maletira.