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November 9, 2000--Red Hat® Europe (Nasdaq:RHAT), the leader in developing, deploying and managing open source Internet infrastructure solutions, today announced the promotion of
Kevin Thompson to the position of Chief Financial Officer (CFO). Thompson, who
joined Red Hat as Vice President of Operations in October 2000, has more
than 13 years of experience managing operations, financial transactions
such as debt and equity offerings, and mergers and acquisitions through
his position as a partner at PricewaterhouseCoopers LLP.
"In just a short time it was compellingly clear that Kevin had the
skills, experience and enthusiasm to assume the operational helm as CFO," said
Matthew Szulik, president and CEO of Red Hat. "Kevin brings tremendous
experience with global finance to Red Hat's executive team and is an
enormous asset to our rapidly growing company."
Thompson formerly served as a partner in the Global Technology Industry
Group of PricewaterhouseCoopers LLP, where he directed stock offerings
and oversaw mergers and acquisitions at public and private technology
companies. Prior to his position at PricewaterhouseCoopers, Thompson
served as a senior manager for Arthur Andersen LLP for 10 years, overseeing
public offerings and directing projects for multi-national companies in North
America, Latin American and Southeast Asia. Thompson is a Certified
Public Accountant and holds a bachelor of science degree in business
administration with highest honors from the University of Oklahoma.
"In the time I have been involved with Red Hat, I have become convinced
of Red Hat's ability to revolutionize the software industry," said
Thompson. "As Red Hat's CFO, I am confident that Red Hat is on track to
meet the goals we've communicated to the public markets--improved gross
margins, continued 100 percent revenue growth and profitability by the
end of calendar year 2001."
Kevin Thompson and the Red Hat executive team will be presenting at
today's investment community meeting. A special listen-only audio web
cast of the meeting will be available at
https://redhat-techworld.com during the
meeting, scheduled for 8:30 a.m. to 3:30 p.m. ET. To participate, simply
click on ``Investors'' at https://redhat-techworld.com
Open Source Momentum
International Data Corp. (IDC) research states that paid Linux shipments
grew faster than any other server operating system over the past two
years, and their preliminary figures for 1999 show Linux shipments hold
24.6 percent of the server operating system market, up from 15.8 in
1998. IDC also states that Red Hat holds 50.2 percent of Linux vendor
market share and that Red Hat Linux is by far the most popular
distribution, preferred by 68.7 percent of U.S. Linux users.
Research firm Netcraft, Inc. http://www.netcraft.com, states that as of May 2000, 30 percent of all public Web sites run on Linux-based operating
systems, making Linux the most popular choice for deploying public Web
sites. IDC research shows 40 percent of all spending on Linux servers is
for Internet related applications, firmly entrenching Linux servers in
the Internet infrastructure.
Finally, IDC predicts that by 2002, there will be more than 55 million
handheld and notebook-style information appliance devices and that by
2005, shipments of these appliances will exceed shipments of PCs.
Red Hat's numerous alliances with industry leaders and the demand for
Linux-based applications has created open source support from many of
the industry's leading software and hardware manufacturers, including
Dell, Compaq, Computer Associates, Hewlett-Packard, IBM, Intel,
Netscape, Novell, Oracle and SAP.
Red Hat, Inc.
Founded in 1994, Red Hat (Nasdaq:RHAT), is the leader in development,
deployment and management of Linux and open source solutions for
Internet infrastructure ranging from small embedded devices to high
availability clusters and secure web servers. In addition to the
award-winning Red Hat Linux server operating system, Red Hat is the
principle provider of GNU-based developer tools and support solutions
for a wide variety of embedded processors. Red Hat provides run-time
solutions, developer tools, Linux kernel expertise and offers support
and engineering services to organizations in all embedded and Linux
markets.
Red Hat applies its technological leadership to create open source
solutions for all points on the Internet and in pervasive computing
environments, offers services backed by the best understanding of open
source and the most comprehensive resources, and delivers the brand of a
widely trusted open source leader and corporate partner. Red Hat offers
users one single, trusted point of contact and a common platform for
developing, deploying and managing open source across the Internet and
devices that connect to the Internet.
Red Hat Europe was established in July 1999 with its European
headquarters based in Surrey, United Kingdom and offices throughout
Europe. Red Hat Linux is sold and supported through a number of major
distribution and industry partners throughout Europe and from
https://redhat-techworld.com/shop
Red Hat Linux was named InfoWorld's Product of the Year for four years
in a row, was given a productivity accolade in Software
Development's Jolt Awards, was named an environment/desktop finalist in
the Ziff-Davis European Excellence Awards, won the editor's
choice awards from the Linux Journal and Australian Personal Computing
magazines, and won the `Just Plain Cool' award from Australian
Personal Computing magazine. At March's LinuxWorld Expo, more than 8,000
members of the Linux community voted Red Hat a
`LinuxWorld Favourite'. Red Hat Linux recently won a Product Excellence
award from Software Development Magazine.
Please visit Red Hat on the Web at
https://redhat-techworld.com
For further information please contact
Fiona Phelps |
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