Rackspace Board Appoints Joe Eazor as New CEO SAN

SAN ANTONIO, TX --(Marketwired - May 24, 2017) - Rackspace ® today announced that the company's board of directors has appointed technology industry veteran Joe Eazor as the new CEO of Rackspace, effective on June 12. As CEO, Eazor will be responsible for the company's global strategy and operations, spanning the U.S. and the three other continents where Rackspace maintains offices and data centers.

As one of the most seasoned and effective CEOs in the technology industry, Eazor has deep experience running everything from startups to huge divisions of global enterprises. He is an inspiring leader with a strong track record of delivering value to customers, employees and investors.

"I'm proud and excited to welcome Joe to Rackspace," said David Sambur, senior partner at Apollo Global Management and chairman of the Rackspace board of directors. "Joe has had a long and successful career growing IT services businesses. He has a proven reputation for driving investment and allocation of resources to the areas that will generate the best returns. Joe has led large and complex organizations. And he will be a good fit as CEO for Rackspace, a company whose culture is a unique asset that has produced industry leading Net Promoter Scores and low customer churn."

Rackspace President Jeff Cotten has served as interim CEO since the company's previous chief executive, Taylor Rhodes, departed in early May. Sambur, the board, and Eazor are pleased that Cotten will continue to serve as president. "All of us feel that Joe will be a great culture fit, as well as a very effective CEO," said Cotten, who knew Eazor when they both worked at EDS nearly a decade ago. "Joe brings deep IT services experience, and strong leadership qualities. I look forward to working with him."

"As soon as the call came about Rackspace, I knew that was where I wanted to go," Eazor said. "I know the company. I've visited the headquarters and felt the spirit there, and watched Rackers at work. I admire Rackspace's well-earned reputation for expertise and Fanatical Support® -- and for a workplace culture that makes that great support possible.

"I'm excited by the huge market opportunity that Rackspace has, as companies move out of their corporate data centers and into multiple clouds," he added. "Rackspace is uniquely well positioned to take advantage of this trend, as the only provider who can deliver expertise and exceptional customer service for all of the leading public and private clouds, along with managed hosting. Thanks to the strategy Rackspace adopted a few years ago, it's got the early lead in the managed cloud space. My goal here is to build on that foundation and make us the world's preeminent IT-services company."

Eazor, 54, has spent more than 25 years as a technology executive. His roles have given him leadership experience across strategy, customer support, product development, global sales and marketing, international operations, M&A, and business process outsourcing.

He most recently served as CEO of EarthLink, a pioneer of dial-up Internet service that he led into profitable new areas of cloud networking. While at EarthLink, Eazor transformed its strategy, investing in profitable new products and exceptional customer service. He doubled free cash flow, sharply lifted employee culture scores and achieved a 79 percent CEO approval rating on Glassdoor. In 2016, Forbes named Earthlink one of the 100 Most Trustworthy Companies in America. In February, Eazor led the sale of the company to Windstream for $1.1 billion. With that transaction, he delivered significant returns to shareholders during his three years as CEO.

Before leading EarthLink, Eazor served as a top executive at EMC, HP and EDS. After HP's acquisition of EDS, Eazor was responsible for integrating that $22 billion business into its new parent. Prior to the acquisition by HP, he led EDS's Asia Pacific business and offshoring operations while living in Shanghai, China. Earlier in his career, he gained experience working with private equity investors as CEO of an Internet portal services startup called Springbow Solutions. He also currently serves on the boards of Commvault Systems and Discover Financial Services.

Eazor earned a bachelor's degree in petroleum engineering from the Colorado School of Mines and an MBA at the University of Chicago's Booth School of Business. He and his family have been living in the Dallas, Texas area off and on over the last 25 years.

About Rackspace

Rackspace, the #1 managed cloud company, helps businesses tap the power of cloud computing without the complexity and cost of managing it all on their own. Rackspace engineers deliver specialized expertise, easy-to-use tools, and Fanatical Support® for leading technologies including AWS, Google, Microsoft, OpenStack and VMware. The company serves customers in 150 countries, including more than half of the FORTUNE 100. Rackspace was named a leader in the 2017 Gartner Magic Quadrant for Public Cloud Infrastructure Managed Service Providers, Worldwide and has been honored by Fortune, Forbes, and others as one of the best companies to work for. Learn more at www.rackspace.com .

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