Rackspace takes itself off the block, names new CEO

Gigaom

Here’s an eye opener: Rackspace, which put itself on the market a few months back, is officially taking itself off and named current president Taylor Rhodes as CEO.

The company dropped the news Tuesday afternoon in a press release that said the company’s board and independent advisors  had run through a series of scenarios including acquisition or share buybacks before ruling them out.

Graham Weston, company chairman, in the statement said:

 In this process we talked to a diverse group of interested parties and entertained different proposals. None of these proposals were deemed to have as much value as the expected value of our standalone plan. We concluded that the company is best positioned to drive value for shareholders, customers and Rackers through the continued execution of its strategic plan to capitalize on the growing market opportunity for managed cloud services.

Rhodes, a sales exec with the San Antonio-based company…

View original post 160 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s