VMware Board Names Raghu Raghuram CEO

VMware Inc. (VMW) Wednesday announced the appointment of Rangarajan Raghuram as Chief Executive Officer and as a Director, effective June 1. Further, the company projected first-quarter 2022 earnings on 9.5 percent growth in revenue.

The company now expects a first-quarter net profit of $1.01 per share and adjusted earnings of $1.76 per share.

Revenue projection for the first quarter of fiscal 2022 is $2.994 billion, up from the first quarter of 2021. The combination of Subscription and SaaS and license revenue is expected to grow 12.5 percent to $1.387 billion, from the prior year.

Raghuram has been with VMware since 2003 and currently serving as an Executive Vice President and Chief Operating Officer, Products and Cloud Services at VMware.

The company named current Senior Vice President and Chief Customer Officer Sumit Dhawan as President, leading all go-to-market functions including Worldwide Sales, Worldwide Partner, and Commercial Organization, Customer Experience and Success (CXS), Marketing, and Communications.

COO Sanjay Poonen will leave the company.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Google has revoked its three-year ban on cryptocurrency-related ads on its sites under the search giants' new ad services policy. This action will now allow cryptocurrency exchanges and wallets certified by Google to advertise their products and services on Google's network, beginning August 3, 2021. The UK's competition regulator said Friday that it has secured commitments from Google to address concerns about the tech giant's proposal to remove third-party cookies from Chrome browser. Archer Aviation, a developer of electric vertical take-off and landing or eVTOL aircraft, unveiled its autonomous electric two-seater aircraft, named "Maker", marking a milestone towards its commercial launch. The California-based air mobility company, which has already received orders from United Airlines, will use its inaugural aircraft prototype for testing as it works towards certification.
Follow RTT