Shashank Samant Appointed as the Lead Director of Rackspace Technology
SAN ANTONIO, TX – November 9, 2022 – Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Shashank Samant as the Lead Director of its Board of Directors, effective as of November 9, 2022.
Mr. Samant has substantial global technology services industry experience, with particular expertise in the software and digital products verticals. He has served on the Rackspace Technology board since October 19, 2021.
“Shashank and I have known each other for many years. Over the past year, we have worked closely together on Rackspace Technology’s strategy and operating model. I am pleased that I can now count on his more active engagement in shaping the Rackspace story as the Lead Director for our Board. Shashank is a dynamic, seasoned EXECutive who specializes in the Digital Technology Services business and the cloud market. The entire Company will benefit from his increased focus and broad experience in Cloud and Digital businesses,” said Amar Maletira, Director, and CEO of Rackspace Technology. “
Mr. Samant has over 30 years of technology, product development and services experience, and most recently served as President and Chief EXECutive Officer of GlobalLogic, a Hitachi Group Company. Under his leadership GlobalLogic scaled to $1.5B in sales as a leading brand in the Digital Transformation space. In early 2021, GlobalLogic was acquired by Hitachi at an enterprise value of $9.6 billion dollars. Prior to GlobalLogic, he held leadership positions at Ness, IBM and HP. In addition to his position with Rackspace, he also serves as an advisor to Apollo Global Management, Inc.
In conjunction with his appointment, Mr. Samant also plans to invest up to 2.5 million dollars in Rackspace Technology’s stock.
About Rackspace Technology
Rackspace Technology is a leading end-to-end multi-cloud technology services company. We can design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.
Rackspace Technology® (NASDAQ: RXT) is the operator of the full enterprise AI stack from governed private cloud to AI inference and agents in production. With an Outcomes-as-a-Service model built on secure infrastructure, data foundations, and forward-deployed engineering, Rackspace delivers business results for regulated and mission-critical industries where governance, sovereignty, and uptime are non-negotiable. Learn more at
www.rackspace.com.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events and can be identified by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continues,” “anticipate,” “intend,”
“could,” “would,” “project,” “plan,” “expect,” “is putting,” “designed to,” or the negative of such terms or other similar expressions, although not all forward-looking statements
contain these words.
These statements include, but are not limited to, Rackspace Technology’s relationship with NVIDIA and the NVIDIA Cloud Partner Program, its Enterprise AI Cloud strategy,
the anticipated capabilities, benefits and timing of its Institutional Sovereign Pod architecture, Rackspace’s outlook on the AI industry and its ability to deliver, operate, and
scale AI infrastructure and solutions for regulated, institutional and sovereign enterprises. Forward-looking statements are based on current expectations and assumptions
and are subject to risks and uncertainties that could cause actual results to differ materially, including, without limitation: Rackspace's ability to realize the anticipated
benefits of its relationship with NVIDIA and the NCP program; the availability, cost, and timing of deployment of NVIDIA and other third-party technology; Rackspace's ability
to develop, market, and scale the Institutional Sovereign Pod and related offerings on the anticipated timeline or at all; market acceptance of and demand for sovereign and
governed AI infrastructure solutions; competition in the AI infrastructure and cloud services markets; capital expenditure requirements associated with AI infrastructure
buildout; availability of financing for the AI infrastructure buildout on terms acceptable to Rackspace; Rackspace’s reliance on a limited number of technology partners,
including NVIDIA; cybersecurity, data privacy, and regulatory compliance risks associated with serving regulated and sovereign customers; general economic and industry
conditions; and other risks and uncertainties described in Rackspace's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. Rackspace undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
