Red Hat replaces CFO
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Red Hat on Thursday named Charles Peters Jr. as executive vice president and chief financial officer. Peters replaces Kevin Thompson, who unexpectedly announced his resignation in June, a few days before the
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It's the second time this year the disk drive maker has seen its CFO resign.
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Longtime Red Hat CEO Matthew Szulik is being replaced, the company announced on the same day it posted a quarterly revenue gain of 28 percent.James Whitehurst, formerly the COO for Delta Airlines, will take on Szulik&#39;s leadership positions and a seat on the board starting in the new year. Szulik, currently president and CEO, will remain as chairman of the board.Szulik had been Red Hat&#39;s CEO for the past eight years and is one of the most prominent business executives in the open-source world.Whitehurst joins Red Hat as the company works through a transition aimed at helping it compete better with giants like Oracle and Microsoft. The company is best known for its Linux server distribution, but that market is getting increasingly crowded. As a result, Red Hat is trying to reach out into other areas or beef up existing offerings, like its services.Despite the competitive landscape, Red Hat managed to produce solid results for its third quarter ending Nov. 30. It posted revenue of $135.4 million, an increase of 28 percent over the same period last year.Net income reached $20.3 million or $0.10 per diluted share, compared with $14.6 million or $0.07 per diluted share in the corresponding quarter of 2006.The company highlighted its JBoss Advanced Partner Program, launched during the quarter, aimed at offering support services to value-added resources in North America.&#160;Red Hat bought JBoss last year&#160;as part of its efforts to expand its offerings.
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The retailer's CEO steps down amid a shakeup in operations.
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InfoWorld - When Matthew Szulik left Red Hat abruptly for family health reasons in December, many people were scratching their heads over the company's new choice of CEO: a young executive from Delta Airlines, Jim Whitehurst.
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Jeffrey B. Lane will replace a senior executive whose unit ran two hedge funds that nearly collapsed this month.
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New Red Hat CEO Jim Whitehurst says the company will focus on its Linux OS and middleware while improving customer service.
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Red Hat said it ended its third quarter with cash and investments totaling US$979 million, according to a company statement. The company said it earned 6 cents a share in its third quarter
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The Motley Fool - On Wednesday, Sept. 27, longtime Linux leader Red Hat (Nasdaq: RHAT - News) released Q2 2007 earnings for the period ending Aug. 31, 2006.
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Red Hat's  new chief executive  said on Friday that the company will continue to pursue a  business model under which it makes its software available at  no cost and makes money selling services to businesses.
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Linux software company Red Hat (Nasdaq: RHAT) has entered a partnership with Unisys (NYSE: UIS), maker of high-end servers. The alliance will allow Unisys to offer a more tightly integrated server package comprising hardware, software and the services to support it.
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Red Hat Inc. , a Linux software distributor that in July said it would restate three years' of financial results, on Thursday named Charles Peters as chief financial officer.
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In a surprise move, the business software maker fired CEO Craig Conway Friday, saying it has has lost confidence in the feisty leader who engineered the company's dogged resistance to a takeover bid by rival Oracle Corp.
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Michael Tiemann, a Red Hat executive with years of open-source experience, says soon-to-be-CEO Jim Whitehurst understands the open-source movement.
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Open source and Linux provider Red Hat (Nasdaq: RHAT) has announced the appointment of Sun Microsystems (Nasdaq: SUNW) executive Karen Tegan-Padir as vice president of desktop infrastructure technologies.
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Red Hat Inc. RHAT.O, a provider of   Linux open-source software, on Tuesday reported lower   second-quarter net income and cut its full-year cash flow   forecast, citing the high costs of integrating acquisitions.
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Red Hat Inc. hired a new chief financial officer as it tries to bolster its sagging stock price and expand into new foreign markets.