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By Edward Gately
Frank Calderoni, Cisco Systems’ former CFO, has been hired by software provider Red Hat as its new executive vice president of operations and CFO.
Calderoni brings to Red Hat more than 30 years of financial and operational experience, and business leadership in publicly traded companies and technology industry companies. He will be responsible for leading Red Hat’s global finance organization, and the leadership and management of its IT and operations teams.
Calderoni served as executive vice president and CFO at Cisco Systems for seven years. From 2004 through 2014, he managed the company’s financial strategy and operations. He most recently served as an executive advisor to the company.
During his tenure at Cisco Systems, the company grew from $22 billion to $47 billion in revenue, and from $0.62 to $1.49 per share in annual profits. He also led financial organizations at global software and technology companies such as QLogic, SanDisk and IBM.
Calderoni is replacing current executive vice president and CFO Charlie Peters, who announced his retirement last December and will remain with Red Hat until July 31. Calderoni will succeed Peters on July 13.
During Peters’ tenure, Red Hat reported 44 consecutive quarters of revenue growth, from $196 million in 2005 to nearly $2 billion in fiscal 2015.
“With the pivotal role Red Hat leads in open-source solutions from the data center to the cloud, it is an outstanding opportunity to be a part of the driving force behind much of that innovation,” Calderoni said. “I am enthusiastic about joining the team at Red Hat to help implement the next era of growth, innovation and customer success.”
The announcement was made in conjunction with Red Hat Summit 2015, which gets underway Tuesday in Boston.