Menu
Red Hat CFO steps down

Red Hat CFO steps down

Red Hat Inc. announced Monday that its chief financial officer (CFO), Kevin Thompson, will soon be leaving the company. The news came a few days before the Linux vendor is due to announce it quarterly financial results.

Thompson, who has been with Red Hat for nearly four years, is leaving to pursue other interests and spend more time with his family. He is expected to stay on until a replacement has been found, Red Hat, of Raleigh, North Carolina, said in a statement.

Shares in Red Hat (RHAT) were down US$2.98, or 12.26 percent, in after-hours trading after the resignation was announced. Earlier Monday, when regular trading closed on the Nasdaq stock market, the stock closed down 5.3 percent at US$24.30.

Red Hat is scheduled to announce results for its 2005 fiscal first quarter on Thursday. It is expected to post earnings per share of $0.04 on revenue of $43 million for the three-month period ended May 31, according to a consensus estimate compiled by Thomson First Call.

Thompson has played a key role in moving Red Hat from primarily a services model to a subscription pricing model, said Stacey Quandt, a principal with Quandt Analytics, an industry research firm.

"Kevin had the hard job of figuring out their subscription model," she said. "They had a services model for a long time and he went to the subscription model. He was a key member of Red Hat, intricately involved."

(Robert McMillan in San Francisco contributed to this report.)


Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
Show Comments