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Rackspace Technology Hires Bobby Molu as New Chief Financial Officer

November 17, 2022

Rackspace Technology Hires Bobby Molu as New Chief Financial Officer

Rackspace Technology Hires Bobby Molu as New Chief Financial Officer

New CFO with Strong Operational Background to Help Drive the Tech Company’s Transformation

SAN ANTONIO, TX – November 17, 2022 – Rackspace Technology® (NASDAQ: RXT) — a leading end-to-end, multicloud technology solutions company, today announced the appointment of Bobby Molu as Chief Financial Officer, effective January 16, 2023. Molu is filling the Rackspace Technology CFO role following the appointment of Amar Maletira to Chief EXECutive Officer in September 2022.

“As we continue the transformation of Rackspace Technology, I am thrilled to welcome Bobby to the company. He is a seasoned finance EXECutive with a solid track record of success,” said Amar Maletira, CEO, of Rackspace Technology. “Bobby’s global experience and a career spanning two decades in numerous financial leadership roles in the technology industry combined with his strong operational background will be key as we EXECute our strategy and new operating model, positioning Rackspace to the long-term multicloud market potential.” 

Molu joins Rackspace Technology from Mastercard where he was Chief Financial Officer of International Markets overseeing Europe, Asia Pacific, Middle East, Africa, Latin America, and Caribbean markets. Prior to this role, Molu was Chief Financial Officer, Asia Pacific region at Mastercard.

Before joining Mastercard, Molu spent 15 years at Hewlett-Packard in a variety of Finance roles, including Chief Financial Officer of Aruba Networks, where he led the integration of the Aruba acquisition by Hewlett-Packard Enterprise while driving cost efficiencies and revenue growth.

Prior to this role, Molu was the Chief Financial Officer for Enterprise Services- Asia Pacific and Japan where he led the region toward the largest ever year-over-year profit improvement performance. Molu also spent time in Australia and New Zealand, successfully leading the turnaround of the largest sub-region in Asia Pacific Prior to Hewlett-Packard, Molu worked in numerous finance roles with increasing responsibilities at IBM Global Services.

“I’m delighted to be joining the preeminent leader in multicloud solutions and working with Amar and the leadership team to accelerate the journey of delivering profitable revenue growth,” said Molu. “Rackspace Technology’s customer-first, cloud-first focus, coupled with its strong brand, committed employee base and world-class partner ecosystem makes it poised to EXECute its go-forward strategy and seize the multicloud market opportunity.”

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.

Media Contact

Natalie Silva

publicrelations@rackspace.com

About Rackspace Technology

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.

Forward-Looking Statements

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.