Rackspace
Managed Hosting Names Chief Financial Officer; Finance
Veteran Gary Kofnovec to Join Rackspace Management Team
[January 12, 2004]
SAN ANTONIO, Jan 12, 2004 (BUSINESS
WIRE) -- Rackspace Managed Hosting, the fastest-growing
managed hosting provider, today announced that it has
named Gary Kofnovec as its chief financial officer.
Kofnovec has more than 25 years of senior financial
management experience including leadership in initial
public offerings and negotiating large credit facilities.
In his new role at Rackspace, Kofnovec will be responsible
for the company's fiscal function and performance, treasury
management, capital structure and investor relations.
"Gary's extensive financial management
experience with public, private and fast-growing companies
lends itself well to Rackspace as we position ourselves
for another growth spurt in 2004," said Graham
Weston, chief executive officer and co-chairman, Rackspace
Managed Hosting. "Gary will bring us the additional
leadership needed to drive expansion and increase market
share."
Kofnovec joins Rackspace from Norwood
Promotional Products, the world's largest manufacturer
of promotional products, where he was chief financial
officer of the $400 million company and led efforts
to significantly increase profitability and improve
the capital structure. Previous positions include chief
financial officer of Xetel, a $200 million publicly
held electronics manufacturer, and partner with the
international accounting firm Grant Thornton.
"Rackspace is the leader in the
web hosting industry, achieving profitability and solid
financial health. My experience in financing growing
companies and building systems and controls will help
Rackspace's continued growth into a much larger company,"
said Kofnovec. "I look forward to working with
the management team in delivering Fanatical Support(TM)
and significantly growing the customer base."
About Rackspace Managed Hosting
Rackspace
Managed Hosting(TM) is a leading provider of managed
Web hosting solutions. Founded in 1998, Rackspace offers
a wide range of managed services for hosting platforms
of all sizes and complexities, including burstable connectivity,
100 percent availability SLA, load balancing, security
and patching, advanced storage solutions and disaster
recovery. Rackspace has received numerous industry awards
for its brand of customer service, known as Fanatical
Support(TM), and was named in the InfoWorld 100 for
technology innovation. For more information, visit
www.rackspace.com,
or call 800-961-2888.
SOURCE: Rackspace Managed Hosting
Rackspace Managed Hosting, San Antonio
Annalie Drusch, 210-892-4000, ext. 1234
adrusch@rackspace.com
or
Bridgeman Communications for Rackspace
Christine Cayer, 617-742-7270
christine@bridgeman.com |
