logo
  

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
General Electric Co. reported Tuesday narrower net loss in its second quarter with strong growth in revenues. The company also generated strong order growth. Looking ahead, the company reiterated its outlook for adjusted earnings per share, while increased its 2021 outlook for Industrial free cash flow range. In pre-market activity on NYSE, GE shares were gaining around 4 percent. The U.S. Food and Drug Administration announced recall of Old Soul's Farms LLC's certain leafy green products as well as Excalibur Seasoning Co.'s Haen Meats Seasoning Blend, citing potential contamination with Listeria monocytogenes, an organism. Consumption of food contaminated with L. monocytogenes can cause listeriosis, a serious infection and sometimes fatal infections. Tobacco giant Philip Morris International plans to stop selling cigarettes in the United Kingdom in the next decade, according to its CEO Jacek Olczak. In an interview with the Daily Mail Sunday, Olczak said the sales of the company's most popular product Marlboro cigarettes will also be stopped. The move is said to be part of the company's plan to phase out traditional tobacco products.
RELATED NEWS
Follow RTT