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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments