Rackspace appoints Jeffrey Benjamin as independent chairman of the board

Rackspace Technology (RXT) announced Board and executive transitions. The Company also re-affirmed financial guidance for the fourth quarter 2024, as previously provided in a press release issued on November 12, 2024. Jeffrey Benjamin will succeed David Sambur as Independent Chairman of the Board. Benjamin has been on the Rackspace Board since 2016 and chairs the Audit Committee. Benjamin has over 25 years of experience in investment management and has served on the boards of American Airlines Group and Caesars Entertainment Company, among others. Sambur, Partner and Co-Head of Equity at Apollo Global Management (APO), stepped down from the Rackspace Board after nine years of dedicated service. In addition, Vikram Mahidhar will be joining the Rackspace Board. Mahidhar has led the digital, data, and artificial intelligence team at Apollo Global Management as an Operating Partner within the Apollo Portfolio Performance Solutions group since 2021. The company also announced that Brian Lillie, President of Private Cloud, will be moving on from his position to focus on personal commitments. Rackspace CEO Amar Maletira will assume the role of Interim Leader for the Private Cloud business. The Company has initiated a search for Lillie’s successor. Lillie is expected to remain with the Company in an advisory capacity until April 5, 2025.