Apollo-backed Rackspace promotes CFO to CEO

Rackspace Technology Inc. /zigman2/quotes/219801308/composite RXT -9.55% on Monday named chief financial officer Amar Maletira as chief executive officer of the company, which is majority owned by Apollo Global Management Inc. /zigman2/quotes/203829595/composite APO +1.83% . Kevin Jones, who has been in the role of CEO for three-and-a-half years, will become an operating advisor with Apollo. Rackspace Technology also said it continues to expect third-quarter earnings of 8 cents to 10 cents a share. Wall Street analysts expect Rackspace to earn 9 cents a share when the company reports its results on Nov. 15, according to FactSet data. Shares of Rackspace are down 63% in 2022, compared to a 30.5% drop by the Nasdaq /zigman2/quotes/210598365/realtime COMP +1.01% .

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Rackspace Technology Inc.

US : U.S.: Nasdaq

$ 1.80

-0.19 -9.55%

Volume: 1.19M

Oct. 4, 2023 1:08p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$429.62 million

Rev. per Employee

$452,882

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Apollo Global Management Inc.

US : U.S.: NYSE

$ 88.15

+1.58 +1.83%

Volume: 902,644

Oct. 4, 2023 1:07p

P/E Ratio

41.31

Dividend Yield

1.95%

Market Cap

$49.07 billion

Rev. per Employee

$9.76M

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NASDAQ Composite Index

US : Nasdaq

13,191.04

+131.58 +1.01%

Volume: 2.45B

Oct. 4, 2023 1:08p