Rackspace Technology Appoints Leading Investment Banking EXECutive Thomas Cole to Board of Directors
Cole brings over 37 years of Wall Street experience and wealth of EXECutive leadership to Rackspace
SAN ANTONIO, TX – October 4, 2023– Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Thomas Cole to the Board of Directors. Cole is an experienced finance EXECutive with an illustrious 37-year career on Wall Street.
“Tom brings a wealth of EXECutive leadership and financial expertise to the Rackspace Board, making him a valuable addition,” said Amar Maletira, Chief EXECutive Officer Rackspace Technology. “Tom’s addition to our board will help further solidify our market position as the leading multicloud solutions company.”
With extensive experience in investment banking, Cole spent 11 years at Citibank, where he was co-head of their leveraged finance business for the US and Canada. He was responsible for managing the origination, underwriting, and distribution of leveraged loans and high-yield bond financings for large corporate issuers and liaising with US regulators from the Federal Reserve, the FDIC, and the OCC.
Before Citibank, Cole spent two and a half years at HSBC and was promoted to Co-Head of their Commercial and Investment banking business for the Americas. Cole also spent a 20-year career with Deutsche Bank in Investment Banking, primarily in client service and origination, where he led the US leveraged finance group until his departure at the end of 2007.
“I’m excited to join the Rackspace Technology Board of Directors and work with the innovative leaders focusing on building solutions and services to meet customers wherever they are in their digital transformation journey,” said Cole. “Rackspace has a bright future, and I look forward to working with Amar and the team as we pursue opportunities to create value for customers and all business stakeholders.”
Cole currently serves as Managing Partner and Founder of the consulting and advisory firm Narrowgate Partners. He is also on the board of several non-profit organizations. Cole attended the Kelley School of Business at Indiana University, graduating with a BS in finance. He also received an MBA in Accounting and Finance from The University of Chicago Booth School of Business.
About Rackspace Technology
Rackspace Technology is a leading end-to-end multicloud 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
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.
