^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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