GNW-Adhoc: Rackspace Technology appoints Mark Marino as Chief Financial Officer

^SAN ANTONIO, Jan. 13, 2024 (GLOBE NEWSWIRE) — Rackspace Technology

(https://www.rackspace.com/)® (NASDAQ: RXT), a leading provider of hybrid

End-to-end multicloud technology solutions, announced today, effective immediately

Appointment of Mark Marino as Chief Financial Officer (CFO) announced. Marino was

previously served as the company’s Chief Accounting Officer and succeeds Naushaza

“Bobby” Molu. Molu resigned from his position to pursue a new career

to take advantage of the opportunity in the United Kingdom, where he lives. He will until the end

February to remain in an advisory role at Rackspace Technology

to ensure a seamless transition.

“I am pleased to welcome Mark Marino as our CFO,” said Chief

Executive Officer Amar Maletira.?As I have been with Rackspace since I joined

Mark Marino, I know firsthand how important he is to our

company is. His extensive knowledge of the business and his extensive

Experience in the field of financial management will continue to be useful to us

help to maintain our position in an attractive and growing hybrid

Strengthen the multicloud and AI market. I look forward to working with

Marino as we continue to implement our strategy and create

Added value for our shareholders.”

Marino joined Rackspace Technology in 2020 as Vice President,

Americas CFO and was promoted to Chief Accounting Officer towards the end of 2021.

Prior to joining the company, Marino served as Vice from 2015 to 2020

President of Finance at Acelity, a leading company acquired by 3M

global medical technology company. Before joining Acelity, Marino

Vice President, Finance at iHeartMedia and Head of Corporate FP&A

SunEdison, Inc. He began his career at General Electric as

Graduated from the Financial Management Program (FMP) and spent almost 10 years there

Years in a variety of financial leadership roles across the sectors

Manufacturing, supply chain, business development, FP&A and as segment CFO at GE

Aviation. Marino holds a bachelor’s degree from DePauw University and a

MBA degree from Baylor University.

“It is a privilege to take on the role of CFO at Rackspace during this exciting time

Technology,” said Marino.?We have made significant progress in

achieved through our transformation. Last year we got a new one

Operating model fully implemented, innovative AI functions presented and

unique, tailor-made solutions for customers in our business areas

Private cloud and public cloud introduced. I look forward to getting closer with Amar

Maletira and the leadership team to work together to execute our strategy

and further drive operational efficiency and profitable growth.”

“The Board of Directors and management team would like to thank Bobby Molu for his

leadership qualities over the past year,” Maletira added.?I am

personally grateful to him for his partnership and contributions, and we

We wish him all the best for his future endeavors.”

Molu’s termination is not the result of a dispute or

Disagreement with the company or the board of directors in a

Matter relating to operations, company policies or practices

of the company.

forecast

Concurrent with the above announcement, Rackspace Technology reiterates

its financial guidance for the fourth quarter of 2023, as stated in

the press release (https://ir.rackspace.com/news-releases/news-release-

details/rackspace-technology-reports-third-quarter-2023-results-0) from 7.

was published in November 2023.

About Rackspace Technology

Rackspace Technology is a leading provider of hybrid end-to-end

Multicloud services. We develop and operate our cloud environments

Customers across all major technology platforms, regardless of

respective technology stack or deployment model. We work with you

work with our customers at every stage of their cloud development and help them

to modernize their applications, develop new products and innovate

introduce technologies.

Forward-Looking Statements

Rackspace Technology has stated in this press release and other reports,

Submissions and other public written and oral

Announcements Statements are made that are forward-looking and therefore involve risks

and are subject to uncertainties. All statements made in this document, with

Exception to statements about historical facts, are or could be

“forward-looking statements” within the meaning of the Private Securities Litigation Reform

Act of 1995 and are made in reliance on the safe-guards provided therein

Harbor protection mechanisms made. These forward-looking statements refer to:

relates to the expected financial performance, plans and objectives of the

Managements for future operations, the business prospects, the outcome of

regulatory proceedings, market conditions and other matters. All

Forward-looking statements in this release speak only as of the date hereof

Publication. We are under no obligation to make any forward-looking statements

new information, future developments or for other reasons

publicly update or change. Forward-looking statements are on

the use of words such as “expects”, “intends”, “will”, “hopes”,

“believes”,?confident”,?continues”,?suggests”,?aims”,?could”,

“can”, “should”, “estimates”, “predicts”, “would”, “goals”, “targets”,

“aims”, “planned”, “projected” and similar expressions. These

Forward-looking statements are based on current estimates and

Assumptions made by management and information currently available to it

stand. Rackspace Technology cautions that these statements involve risks and

are subject to uncertainties, many of which are beyond our control

and could cause future events or results to be material

differ from those stated or implied in this document, including but not limited to:

Risk factors discussed in Rackspace Technology Inc.’s annual reports

Form 10-K, in the Quarterly Reports on Form 10-Q, in the current

Reports on Form 8-K and others filed with the Securities and Exchange

documents submitted to the Commission, including those contained therein

included sections?Risk factors” and?Management report and

“Analysis of the financial situation and operating results”.

IR contact

Sagar Hebbar

[email protected] (mailto:[email protected])

PR contact

Natalie Silva

[email protected] (mailto:[email protected])

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/46ac8e8c-01f5-4647-a0d1-

8e2c8fd7f559

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