Red Hat appoints Paul Cormier as its President and Chief Executive Officer.
Red Hat's New Leadership: Paul Cormier Takes the Helm
After an illustrious tenure at Red Hat, Paul Cormier has been appointed as the President and Chief Executive Officer, effective today. Cormier, who previously served as Red Hat's President of Products and Technologies, has been instrumental in driving the company's growth and strategic direction since joining in 2001.
Under Cormier's leadership, Red Hat has undergone significant transformations. One of the most notable changes was the move from Red Hat Linux, a freely downloadable operating system, to Red Hat Enterprise Linux, the industry's leading enterprise Linux platform. This shift has positioned Red Hat as a key player in the enterprise technology landscape.
Cormier's vision for open hybrid cloud has been instrumental in establishing Red Hat OpenShift as a backbone of hybrid cloud deployments across industries. His leadership has also led to more than 25 acquisitions, moving the company well beyond its Linux roots. Cormier is credited with pioneering the subscription model that transformed Red Hat from an open source disruptor to an enterprise technology mainstay.
Cormier's appointment comes as Jim Whitehurst steps down as President of IBM and takes on the role of Chairman of Red Hat. Whitehurst, who preceded Cormier as President of Red Hat, oversaw the landmark acquisition of Red Hat by IBM for $34 billion in 2019. During his tenure at Red Hat, the company's revenue grew from over $500 million to almost $3 billion for the 2018 fiscal year.
Under Whitehurst's leadership, Red Hat was named to Fortune's list of the Most Admired Companies in 2019 and 2020. The company was also named to Forbes' list of "The World's Most Innovative Companies" six times. Whitehurst oversaw the forging of a landmark partnership with Microsoft to bring broader choice to hybrid cloud deployments.
The availability of true enterprise-grade open source products across the technology stack and changing business models have made open source a de facto source of innovation in the software industry. Red Hat Enterprise Linux, under Cormier's leadership, powers more than 90% of Fortune 500 organizations today.
With Cormier at the helm, Red Hat is poised to continue its momentum and drive further innovation in the open source and enterprise technology landscapes.
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